According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “
Separately, Clarkson Capital reaffirmed a neutral rating on shares of Seaspan Corp. in a report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.00.
Shares of Seaspan Corp. (NYSE:SSW) opened at 13.29 on Thursday. Seaspan Corp. has a one year low of $13.15 and a one year high of $20.00. The firm has a market cap of $1.40 billion, a PE ratio of 15.35 and a beta of 1.29. The firm’s 50-day moving average price is $13.79 and its 200-day moving average price is $15.23.
Seaspan Corp. (NYSE:SSW) last released its quarterly earnings results on Monday, July 25th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The company had revenue of $224.31 million for the quarter, compared to analysts’ expectations of $217.74 million. Seaspan Corp. had a return on equity of 10.41% and a net margin of 16.10%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities research analysts expect that Seaspan Corp. will post $1.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 20th will be issued a dividend of $0.375 per share. The ex-dividend date is Tuesday, October 18th. This represents a $1.50 annualized dividend and a yield of 11.29%. Seaspan Corp.’s payout ratio is 172.41%.
A number of large investors have recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in shares of Seaspan Corp. during the second quarter valued at approximately $140,000. First Allied Advisory Services Inc. boosted its position in Seaspan Corp. by 0.8% in the second quarter. First Allied Advisory Services Inc. now owns 10,456 shares of the company’s stock valued at $145,000 after buying an additional 79 shares in the last quarter. Stifel Financial Corp bought a new position in Seaspan Corp. during the second quarter valued at about $167,000. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Seaspan Corp. by 9.0% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 12,077 shares of the company’s stock valued at $169,000 after buying an additional 1,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Seaspan Corp. during the second quarter valued at about $178,000. 11.87% of the stock is currently owned by hedge funds and other institutional investors.
Seaspan Corp. Company Profile
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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