Zacks Investment Research Lowers Seaspan (SSW) to Sell

Seaspan (NYSE:SSW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday, January 6th.

According to Zacks, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. “

A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Seaspan from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Jefferies Group assumed coverage on shares of Seaspan in a research note on Monday, December 18th. They set a “buy” rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Seaspan presently has a consensus rating of “Hold” and an average price target of $8.21.

Shares of Seaspan (NYSE SSW) opened at $6.82 on Friday. The stock has a market cap of $844.13, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19. Seaspan has a 52-week low of $5.02 and a 52-week high of $11.22.

Seaspan (NYSE:SSW) last announced its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Seaspan had a net margin of 14.23% and a return on equity of 7.14%. The firm had revenue of $211.01 million during the quarter, compared to analysts’ expectations of $212.46 million. During the same quarter in the prior year, the company earned $0.29 EPS. equities research analysts anticipate that Seaspan will post 0.71 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in SSW. Schwab Charles Investment Management Inc. acquired a new stake in Seaspan during the second quarter valued at $157,000. First Trust Advisors LP grew its position in Seaspan by 144.2% during the second quarter. First Trust Advisors LP now owns 351,385 shares of the shipping company’s stock valued at $2,509,000 after buying an additional 207,520 shares during the period. JPMorgan Chase & Co. acquired a new stake in Seaspan during the second quarter valued at $1,289,000. Wells Fargo & Company MN grew its position in Seaspan by 3.9% during the second quarter. Wells Fargo & Company MN now owns 36,101 shares of the shipping company’s stock valued at $258,000 after buying an additional 1,339 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in Seaspan during the second quarter valued at $179,000. Institutional investors own 14.32% of the company’s stock.

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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.

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