SEASPAN Corp/SH SH (SSW) Sees Strong Trading Volume After Strong Earnings

SEASPAN Corp/SH SH (NYSE:SSW) saw strong trading volume on Wednesday following a better than expected earnings announcement. 3,581,312 shares were traded during trading, an increase of 176% from the previous session’s volume of 1,295,799 shares.The stock last traded at $8.94 and had previously closed at $7.33.

The shipping company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.11. The business had revenue of $294.98 million for the quarter, compared to analysts’ expectations of $292.96 million. SEASPAN Corp/SH SH had a return on equity of 6.35% and a net margin of 26.04%. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 22nd were given a $0.125 dividend. The ex-dividend date of this dividend was Friday, October 19th. This represents a $0.50 annualized dividend and a yield of 5.59%. SEASPAN Corp/SH SH’s payout ratio is 75.76%.



Several research analysts have issued reports on the company. Zacks Investment Research cut SEASPAN Corp/SH SH from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Co cut SEASPAN Corp/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 target price on the stock. in a research report on Friday, September 28th. ValuEngine cut SEASPAN Corp/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Finally, Deutsche Bank cut SEASPAN Corp/SH SH from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $9.00 in a research report on Wednesday, September 19th. Four equities research analysts have rated the stock with a sell rating, three have issued 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 an average price target of $9.31.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cue Financial Group Inc. raised its stake in shares of SEASPAN Corp/SH SH by 14.1% in the third quarter. Cue Financial Group Inc. now owns 81,900 shares of the shipping company’s stock worth $682,000 after buying an additional 10,100 shares during the period. SG Americas Securities LLC bought a new position in shares of SEASPAN Corp/SH SH in the second quarter worth about $104,000. Oppenheimer & Co. Inc. raised its stake in shares of SEASPAN Corp/SH SH by 92.7% in the second quarter. Oppenheimer & Co. Inc. now owns 21,200 shares of the shipping company’s stock worth $216,000 after buying an additional 10,200 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of SEASPAN Corp/SH SH in the second quarter worth about $113,000. Finally, Royal Bank of Canada raised its stake in shares of SEASPAN Corp/SH SH by 17.6% in the first quarter. Royal Bank of Canada now owns 77,184 shares of the shipping company’s stock worth $516,000 after buying an additional 11,571 shares during the period. 16.75% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $906.01 million, a P/E ratio of 13.55, a PEG ratio of 0.41 and a beta of 0.36.

SEASPAN Corp/SH SH Company Profile (NYSE:SSW)

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 Hong Kong, Hong Kong.

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