Shares of Seaspan Co. (NYSE:SSW) have been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the company. Four investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.93.
Several equities research analysts have recently weighed in on the stock. Seaport Global Securities reaffirmed a “neutral” rating on shares of Seaspan in a research report on Thursday, January 19th. Zacks Investment Research upgraded shares of Seaspan from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 18th. JPMorgan Chase & Co. upgraded shares of Seaspan from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research note on Thursday, March 2nd. Credit Suisse Group AG set a $8.00 price objective on shares of Seaspan and gave the stock a “hold” rating in a research note on Thursday, March 2nd. Finally, Barclays PLC reiterated an “underweight” rating and set a $6.00 price objective (down previously from $11.00) on shares of Seaspan in a research note on Thursday, March 16th.
A number of hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Seaspan by 215.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,561 shares of the shipping company’s stock worth $161,000 after buying an additional 11,991 shares during the period. Guggenheim Capital LLC increased its position in Seaspan by 40.0% in the fourth quarter. Guggenheim Capital LLC now owns 310,904 shares of the shipping company’s stock valued at $2,842,000 after buying an additional 88,795 shares during the last quarter. Two Sigma Investments LP increased its position in Seaspan by 124.4% in the fourth quarter. Two Sigma Investments LP now owns 575,218 shares of the shipping company’s stock valued at $5,257,000 after buying an additional 318,867 shares during the last quarter. Capstone Investment Advisors LLC increased its position in Seaspan by 143.1% in the fourth quarter. Capstone Investment Advisors LLC now owns 36,702 shares of the shipping company’s stock valued at $335,000 after buying an additional 21,602 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Seaspan by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,253,000 shares of the shipping company’s stock valued at $11,452,000 after buying an additional 72,400 shares during the last quarter. 11.71% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Seaspan (NYSE:SSW) traded up 0.96% on Tuesday, reaching $6.33. The company had a trading volume of 490,082 shares. The company’s 50-day moving average is $6.77 and its 200-day moving average is $9.18. The company’s market capitalization is $668.86 million. Seaspan has a one year low of $6.05 and a one year high of $17.86.
Seaspan (NYSE:SSW) last announced its quarterly earnings results on Tuesday, February 28th. The shipping company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. Seaspan had a negative net margin of 7.28% and a positive return on equity of 10.38%. The firm earned $213.20 million during the quarter, compared to analysts’ expectations of $213.39 million. During the same quarter in the prior year, the company earned $0.35 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Seaspan will post $0.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Thursday, April 20th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend is Tuesday, April 18th. Seaspan’s dividend payout ratio (DPR) is presently -141.51%.
Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.
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