Analysts Set SEASPAN Corp/SH SH (SSW) Target Price at $9.83

SEASPAN Corp/SH SH (NYSE:SSW) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.83.

SSW has been the topic of several research analyst reports. Wells Fargo & Co lowered SEASPAN Corp/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 target price on the stock. in a research report on Friday, September 28th. ValuEngine lowered SEASPAN Corp/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Deutsche Bank lowered SEASPAN Corp/SH SH from a “buy” rating to a “hold” rating and cut their target price for the company from $13.00 to $9.00 in a research report on Wednesday, September 19th. Finally, Zacks Investment Research upgraded SEASPAN Corp/SH SH from a “strong sell” rating to a “hold” rating in a research report on Friday, August 10th.

Several institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in SEASPAN Corp/SH SH by 679.2% during the 1st quarter. Wells Fargo & Company MN now owns 368,466 shares of the shipping company’s stock worth $2,461,000 after buying an additional 321,177 shares during the period. Schwab Charles Investment Management Inc. raised its stake in SEASPAN Corp/SH SH by 48.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 122,152 shares of the shipping company’s stock worth $816,000 after buying an additional 40,021 shares during the period. Northern Trust Corp raised its stake in SEASPAN Corp/SH SH by 24.8% during the 1st quarter. Northern Trust Corp now owns 73,724 shares of the shipping company’s stock worth $492,000 after buying an additional 14,661 shares during the period. BlackRock Inc. raised its stake in SEASPAN Corp/SH SH by 566.5% during the 1st quarter. BlackRock Inc. now owns 2,282,682 shares of the shipping company’s stock worth $15,248,000 after buying an additional 1,940,170 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in SEASPAN Corp/SH SH by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,782,578 shares of the shipping company’s stock worth $11,908,000 after buying an additional 149,265 shares during the period. Institutional investors own 16.74% of the company’s stock.

Shares of NYSE SSW traded up $0.01 during trading on Friday, reaching $8.42. The company had a trading volume of 27,464 shares, compared to its average volume of 1,312,391. SEASPAN Corp/SH SH has a 12 month low of $5.50 and a 12 month high of $10.72. The firm has a market capitalization of $1.03 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.47 and a beta of 0.37. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.82.

SEASPAN Corp/SH SH (NYSE:SSW) last released its quarterly earnings results on Wednesday, August 1st. The shipping company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. SEASPAN Corp/SH SH had a return on equity of 6.35% and a net margin of 26.04%. The firm had revenue of $281.66 million for the quarter, compared to analyst estimates of $279.69 million. As a group, analysts forecast that SEASPAN Corp/SH SH will post 0.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Monday, October 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, October 19th. This represents a $0.50 annualized dividend and a dividend yield of 5.94%. SEASPAN Corp/SH SH’s payout ratio is 75.76%.

SEASPAN Corp/SH SH Company Profile

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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Analyst Recommendations for SEASPAN Corp/SH SH (NYSE:SSW)

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