ValuEngine upgraded shares of SEASPAN CORP/SH SH (NYSE:SSW) from a sell rating to a hold rating in a research note published on Wednesday morning.
A number of other research analysts have also recently issued reports on SSW. Zacks Investment Research raised SEASPAN CORP/SH SH from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Tuesday, November 20th. Seaport Global Securities set a $12.00 price target on SEASPAN CORP/SH SH and gave the company a buy rating in a report on Tuesday, November 20th. Deutsche Bank cut SEASPAN CORP/SH SH from a buy rating to a hold rating and cut their price target for the company from $13.00 to $9.00 in a report on Wednesday, September 19th. Finally, Wells Fargo & Co cut SEASPAN CORP/SH SH from a market perform rating to an underperform rating and set a $6.00 price target for the company. in a report on Friday, September 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. SEASPAN CORP/SH SH currently has a consensus rating of Hold and an average price target of $8.31.
Shares of NYSE SSW opened at $9.31 on Wednesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.58 and a beta of 0.49. SEASPAN CORP/SH SH has a 52-week low of $5.50 and a 52-week high of $10.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.51.
SEASPAN CORP/SH SH (NYSE:SSW) last issued its quarterly earnings data on Tuesday, October 30th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. The company had revenue of $294.98 million during the quarter, compared to analysts’ expectations of $292.96 million. SEASPAN CORP/SH SH had a return on equity of 7.89% and a net margin of 27.00%. The business’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. As a group, sell-side analysts predict that SEASPAN CORP/SH SH will post 1.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, January 14th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, January 11th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.37%. SEASPAN CORP/SH SH’s dividend payout ratio is 75.76%.
Several institutional investors have recently added to or reduced their stakes in SSW. SG Americas Securities LLC bought a new position in shares of SEASPAN CORP/SH SH in the second quarter valued at about $104,000. Security National Bank of Sioux City Iowa IA bought a new position in shares of SEASPAN CORP/SH SH in the second quarter valued at about $122,000. Commonwealth Bank of Australia bought a new position in shares of SEASPAN CORP/SH SH in the third quarter valued at about $154,000. Oppenheimer & Co. Inc. raised its holdings in shares of SEASPAN CORP/SH SH by 92.7% in the second quarter. Oppenheimer & Co. Inc. now owns 21,200 shares of the shipping company’s stock valued at $216,000 after buying an additional 10,200 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new position in shares of SEASPAN CORP/SH SH in the third quarter valued at about $267,000. 48.02% of the stock is owned by institutional investors and hedge funds.
About SEASPAN CORP/SH SH
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.
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