Zacks Investment Research Upgrades SEASPAN CORP/SH SH (NYSE:SSW) to Hold

SEASPAN CORP/SH SH (NYSE:SSW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “

A number of other research analysts have also commented on SSW. ValuEngine upgraded shares of SEASPAN CORP/SH SH from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Bank of America lowered shares of SEASPAN CORP/SH SH from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research note on Monday, November 25th. Stifel Nicolaus lowered shares of SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating and upped their price target for the company from $10.00 to $10.50 in a research note on Wednesday, January 22nd. Finally, TheStreet upgraded shares of SEASPAN CORP/SH SH from a “c+” rating to a “b” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. SEASPAN CORP/SH SH has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of SSW opened at $10.40 on Tuesday. SEASPAN CORP/SH SH has a 52 week low of $7.78 and a 52 week high of $14.62. The firm has a market cap of $2.21 billion, a P/E ratio of 6.08, a price-to-earnings-growth ratio of 2.06 and a beta of 0.88. The firm’s 50-day simple moving average is $12.63 and its 200 day simple moving average is $11.87. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.43 and a current ratio of 0.43.

SEASPAN CORP/SH SH (NYSE:SSW) last announced its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. SEASPAN CORP/SH SH had a net margin of 38.79% and a return on equity of 7.61%. The business had revenue of $288.00 million for the quarter, compared to analyst estimates of $284.10 million. During the same quarter in the prior year, the business earned $0.25 EPS. SEASPAN CORP/SH SH’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that SEASPAN CORP/SH SH will post 0.87 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in SEASPAN CORP/SH SH by 1.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 87,014 shares of the shipping company’s stock valued at $1,236,000 after purchasing an additional 994 shares during the period. Tower Research Capital LLC TRC boosted its holdings in SEASPAN CORP/SH SH by 163.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,815 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 1,126 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in SEASPAN CORP/SH SH by 13.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 11,600 shares of the shipping company’s stock valued at $165,000 after purchasing an additional 1,400 shares during the period. PFG Advisors boosted its holdings in SEASPAN CORP/SH SH by 2.1% in the 4th quarter. PFG Advisors now owns 83,500 shares of the shipping company’s stock valued at $1,160,000 after purchasing an additional 1,750 shares during the period. Finally, Manchester Financial Inc. bought a new stake in SEASPAN CORP/SH SH in the 4th quarter valued at about $37,000. 48.14% of the stock is owned by hedge funds and other institutional investors.

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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