Jefferies Group began coverage on shares of Seaspan (NYSE:SSW) in a research note published on Monday morning. The firm issued a buy rating and a $20.00 target price on the shipping company’s stock.

Separately, ValuEngine downgraded Seaspan from a buy rating to a hold rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $8.21.

Seaspan (NYSE:SSW) opened at $6.45 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $729.02, a price-to-earnings ratio of 8.30, a PEG ratio of 1.75 and a beta of 0.61. Seaspan has a 12 month low of $5.02 and a 12 month high of $11.76.

Seaspan (NYSE:SSW) last posted its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $211.01 million for the quarter, compared to the consensus estimate of $212.46 million. Seaspan had a return on equity of 7.14% and a net margin of 14.23%. During the same quarter in the prior year, the business posted $0.29 EPS. sell-side analysts forecast that Seaspan will post 0.71 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of SSW. Dimensional Fund Advisors LP lifted its stake in shares of Seaspan by 523.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,072,771 shares of the shipping company’s stock valued at $7,430,000 after purchasing an additional 900,606 shares during the period. Bank of America Corp DE raised its stake in Seaspan by 9.3% during the 1st 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. Credit Suisse AG raised its stake in Seaspan by 27.1% during the 1st quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock worth $350,000 after buying an additional 10,759 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in Seaspan during the 2nd quarter worth $157,000. Finally, First Trust Advisors LP raised its stake in Seaspan by 144.2% during the 2nd quarter. First Trust Advisors LP now owns 351,385 shares of the shipping company’s stock worth $2,509,000 after buying an additional 207,520 shares during the period. 14.32% of the stock is currently owned by institutional investors.

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About Seaspan

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.

Analyst Recommendations for Seaspan (NYSE:SSW)

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