Seaspan (SSW) Downgraded to “Hold” at ValuEngine

ValuEngine cut shares of Seaspan (NYSE:SSW) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Separately, Jefferies Group began coverage on Seaspan in a report on Monday, December 18th. They set a buy rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $8.21.

Shares of Seaspan (NYSE SSW) traded up $0.09 during mid-day trading on Friday, reaching $7.14. The company’s stock had a trading volume of 1,823,798 shares, compared to its average volume of 1,545,833. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.19 and a current ratio of 1.19. Seaspan has a 12 month low of $5.02 and a 12 month high of $11.76. The firm has a market capitalization of $883.73, a P/E ratio of 15.52, a P/E/G ratio of 1.40 and a beta of 0.60.

Seaspan (NYSE:SSW) last released its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $212.46 million. Seaspan had a return on equity of 7.14% and a net margin of 14.23%. During the same quarter in the previous year, the company posted $0.29 earnings per share. analysts anticipate that Seaspan will post 0.71 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSW. Bank of America Corp DE raised its holdings in shares of Seaspan by 9.3% during the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock valued at $144,000 after buying an additional 1,775 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Seaspan by 27.1% during the first quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock valued at $350,000 after buying an additional 10,759 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Seaspan during the second quarter valued at approximately $157,000. First Trust Advisors LP raised its holdings in Seaspan by 144.2% during the second quarter. First Trust Advisors LP now owns 351,385 shares of the shipping company’s stock worth $2,509,000 after purchasing an additional 207,520 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Seaspan during the second quarter worth approximately $1,289,000. 14.32% of the stock is currently owned by institutional investors.

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About Seaspan

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Seaspan (NYSE:SSW)

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