Jefferies Group Comments on Seaspan Co.’s FY2017 Earnings (NYSE:SSW)

Seaspan Co. (NYSE:SSW) – Equities researchers at Jefferies Group issued their FY2017 earnings estimates for Seaspan in a note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst R. Giveans anticipates that the shipping company will post earnings per share of $0.74 for the year. Jefferies Group has a “Buy” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Seaspan’s Q4 2017 earnings at $0.23 EPS and FY2018 earnings at $1.00 EPS.

Several other equities analysts have also recently issued reports on SSW. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.21.

Shares of Seaspan (NYSE:SSW) traded down $0.01 on Wednesday, reaching $7.28. The company had a trading volume of 1,499,946 shares, compared to its average volume of 1,356,300. Seaspan has a 52-week low of $5.02 and a 52-week high of $11.76. The company has a market capitalization of $901.06, a PE ratio of 15.83, a PEG ratio of 1.40 and a beta of 0.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19.

Seaspan (NYSE:SSW) last released its earnings results on Tuesday, October 31st. The shipping company reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Seaspan had a return on equity of 7.14% and a net margin of 14.23%. The company had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $212.46 million. During the same period in the prior year, the business posted $0.29 EPS.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its position in Seaspan by 11,648.9% in the third quarter. Sei Investments Co. now owns 15,626 shares of the shipping company’s stock worth $111,000 after buying an additional 15,493 shares during the period. NEXT Financial Group Inc acquired a new stake in Seaspan in the third quarter worth $143,000. Bank of America Corp DE increased its position in Seaspan by 9.3% in the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after buying an additional 1,775 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in Seaspan in the second quarter worth $157,000. Finally, First Allied Advisory Services Inc. increased its position in Seaspan by 42.4% in the second quarter. First Allied Advisory Services Inc. now owns 24,727 shares of the shipping company’s stock worth $174,000 after buying an additional 7,366 shares during the period. 14.32% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Monday, January 22nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend is Friday, January 19th. Seaspan’s dividend payout ratio is presently 108.70%.

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Seaspan Company Profile

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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