Seaspan Co. (NYSE:SSW) dropped 0% during trading on Friday . The company traded as low as $8.31 and last traded at $8.31. Approximately 1,823,489 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 1,622,469 shares. The stock had previously closed at $8.31.
SSW has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Seaspan from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Morgan Stanley boosted their target price on shares of Seaspan from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Monday, February 12th. Bank of America upgraded shares of Seaspan from an “underperform” rating to a “buy” rating in a research report on Thursday, May 3rd. TheStreet upgraded shares of Seaspan from a “d+” rating to a “c” rating in a research report on Friday, March 2nd. Finally, Deutsche Bank upgraded shares of Seaspan from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.00 to $13.00 in a research report on Thursday, April 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Seaspan presently has an average rating of “Hold” and an average target price of $9.40.
The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.11 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.53 and a beta of 0.48.
Seaspan (NYSE:SSW) last released its earnings results on Wednesday, May 2nd. The shipping company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). Seaspan had a net margin of 23.74% and a return on equity of 6.68%. The company had revenue of $224.78 million for the quarter, compared to analyst estimates of $223.36 million. During the same quarter in the previous year, the firm earned $0.15 EPS. equities research analysts expect that Seaspan Co. will post 0.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Friday, April 20th were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, April 19th. This represents a $0.50 annualized dividend and a yield of 6.02%. Seaspan’s payout ratio is 75.76%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC acquired a new position in Seaspan during the fourth quarter worth $2,759,000. LPL Financial LLC raised its holdings in Seaspan by 6.0% during the fourth quarter. LPL Financial LLC now owns 133,063 shares of the shipping company’s stock worth $898,000 after buying an additional 7,524 shares during the last quarter. Koch Industries Inc. acquired a new position in Seaspan during the fourth quarter worth $336,000. Silver Capital Management LLC acquired a new position in Seaspan during the fourth quarter worth $500,000. Finally, Schroder Investment Management Group acquired a new position in Seaspan during the fourth quarter worth $2,198,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.
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 Central, Hong Kong.
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