Separately, Zacks Investment Research downgraded Seaspan Corp. from a hold rating to a sell rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $16.00.
Seaspan Corp. (NYSE:SSW) traded down 0.207% during mid-day trading on Friday, hitting $13.492. The company had a trading volume of 135,193 shares. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.580 and a beta of 1.37. The firm’s 50 day moving average is $14.24 and its 200 day moving average is $15.58. Seaspan Corp. has a 52 week low of $13.27 and a 52 week high of $20.00.
Seaspan Corp. (NYSE:SSW) last issued its earnings results on Monday, July 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. The business had revenue of $224.31 million for the quarter, compared to the consensus estimate of $217.74 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Seaspan Corp. will post $1.22 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in SSW. Norges Bank purchased a new position in Seaspan Corp. during the fourth quarter worth about $8,007,000. CIBC World Markets Inc. boosted its position in shares of Seaspan Corp. by 2.2% in the first quarter. CIBC World Markets Inc. now owns 38,636 shares of the company’s stock worth $709,000 after buying an additional 840 shares in the last quarter. BlackRock Inc. bought a new position in shares of Seaspan Corp. during the first quarter worth approximately $262,000. M&T Bank Corp bought a new position in shares of Seaspan Corp. during the first quarter worth approximately $324,000. Finally, State Street Corp boosted its position in shares of Seaspan Corp. by 693.7% in the first quarter. State Street Corp now owns 205,570 shares of the company’s stock worth $3,770,000 after buying an additional 179,670 shares in the last quarter. Hedge funds and other institutional investors own 11.87% of the company’s stock.
About Seaspan Corp.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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