Seaspan (NYSE:SSW) was upgraded by analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, The Fly reports.
Other equities research analysts have also issued research reports about the stock. Seaport Global Securities raised shares of Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, January 24th. TheStreet raised shares of Seaspan from a “d+” rating to a “c” rating in a report on Friday, March 2nd. Zacks Investment Research raised shares of Seaspan from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 20th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Seaspan in a report on Thursday, March 15th. Finally, ValuEngine lowered shares of Seaspan from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.67.
Seaspan stock traded up $0.08 on Thursday, hitting $7.03. The company’s stock had a trading volume of 610,533 shares, compared to its average volume of 1,576,439. The firm has a market capitalization of $851.55, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.28 and a beta of 0.52. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 0.86. Seaspan has a one year low of $5.02 and a one year high of $7.91.
Seaspan (NYSE:SSW) last announced its quarterly earnings results on Tuesday, February 27th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). Seaspan had a net margin of 21.08% and a return on equity of 6.79%. The business had revenue of $214.38 million during the quarter, compared to the consensus estimate of $217.56 million. During the same period last year, the firm earned $0.21 EPS. analysts predict that Seaspan will post 1.17 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the business. Advantage Investment Management LLC bought a new stake in Seaspan during the 4th quarter worth about $103,000. GSA Capital Partners LLP bought a new stake in Seaspan during the 3rd quarter worth about $220,000. Janney Montgomery Scott LLC bought a new stake in Seaspan during the 3rd quarter worth about $221,000. Schwab Charles Investment Management Inc. grew its holdings in Seaspan by 104.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 44,944 shares of the shipping company’s stock worth $319,000 after acquiring an additional 22,958 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Seaspan by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 47,289 shares of the shipping company’s stock worth $319,000 after acquiring an additional 7,690 shares during the last quarter. 15.64% of the stock is currently owned by hedge funds and other institutional investors.
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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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