FY2017 Earnings Estimate for Seaspan Corporation (SSW) Issued By Seaport Global Securities
Seaspan Corporation (NYSE:SSW) – Equities researchers at Seaport Global Securities boosted their FY2017 earnings estimates for Seaspan Corporation in a report released on Wednesday. Seaport Global Securities analyst K. Sterling now expects that the shipping company will earn $0.69 per share for the year, up from their prior forecast of $0.66. Seaport Global Securities also issued estimates for Seaspan Corporation’s Q4 2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.12 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.38 EPS and FY2019 earnings at $1.41 EPS.
A number of other research firms also recently weighed in on SSW. ValuEngine downgraded Seaspan Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Seaspan Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded Seaspan Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $7.00 target price on shares of Seaspan Corporation in a research report on Friday, July 14th. Finally, Credit Suisse Group set a $5.00 target price on Seaspan Corporation and gave the stock a “sell” rating in a research report on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Seaspan Corporation has an average rating of “Hold” and an average price target of $6.79.
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Shares of Seaspan Corporation (NYSE:SSW) opened at $6.52 on Monday. The firm has a market capitalization of $796.47, a price-to-earnings ratio of 8.94, a PEG ratio of 1.93 and a beta of 0.66. Seaspan Corporation has a 52-week low of $5.02 and a 52-week high of $11.76. 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 Corporation (NYSE:SSW) last issued its quarterly earnings data on Tuesday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Seaspan Corporation had a return on equity of 7.14% and a net margin of 14.23%. The firm had revenue of $211.01 million during the quarter, compared to the consensus estimate of $212.46 million. During the same quarter in the previous year, the company posted $0.29 EPS.
Several institutional investors have recently made changes to their positions in the stock. Evanson Asset Management LLC grew its stake in shares of Seaspan Corporation by 1.8% during the second quarter. Evanson Asset Management LLC now owns 32,442 shares of the shipping company’s stock worth $232,000 after purchasing an additional 573 shares during the period. Wells Fargo & Company MN grew its stake in shares of Seaspan Corporation by 3.9% during the second quarter. Wells Fargo & Company MN now owns 36,101 shares of the shipping company’s stock worth $258,000 after purchasing an additional 1,339 shares during the period. Bank of America Corp DE grew its stake in shares of Seaspan Corporation by 9.3% during the first quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after purchasing an additional 1,775 shares during the period. Cue Financial Group Inc. grew its stake in shares of Seaspan Corporation by 13.0% during the second quarter. Cue Financial Group Inc. now owns 17,400 shares of the shipping company’s stock worth $124,000 after purchasing an additional 2,000 shares during the period. Finally, Shell Asset Management Co. grew its stake in shares of Seaspan Corporation by 4.8% during the second quarter. Shell Asset Management Co. now owns 58,350 shares of the shipping company’s stock worth $417,000 after purchasing an additional 2,668 shares during the period. 15.86% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Gerry Yougui Wang acquired 10,076 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $6.39 per share, with a total value of $64,385.64. Following the completion of the purchase, the chief executive officer now directly owns 2,042,848 shares in the company, valued at $13,053,798.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Friday, October 20th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.67%. Seaspan Corporation’s dividend payout ratio (DPR) is presently -29.94%.
About Seaspan Corporation
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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