Zacks: Brokerages Anticipate Seaspan Corporation (SSW) Will Post Quarterly Sales of $218.49 Million

Brokerages expect that Seaspan Corporation (NYSE:SSW) will announce $218.49 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Seaspan Corporation’s earnings. The highest sales estimate is $225.20 million and the lowest is $214.22 million. Seaspan Corporation posted sales of $213.19 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is scheduled to report its next earnings report on Tuesday, February 27th.

On average, analysts expect that Seaspan Corporation will report full-year sales of $218.49 million for the current fiscal year, with estimates ranging from $831.16 million to $842.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $900.00 million per share, with estimates ranging from $859.50 million to $917.71 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Seaspan Corporation.

Seaspan Corporation (NYSE:SSW) last issued its quarterly earnings results on Tuesday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $212.46 million. Seaspan Corporation had a net margin of 14.23% and a return on equity of 7.14%. During the same quarter last year, the company posted $0.29 EPS.

SSW has been the topic of several analyst reports. Credit Suisse Group set a $5.00 price target on shares of Seaspan Corporation and gave the stock a “sell” rating in a research note on Tuesday, August 1st. ValuEngine cut shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Seaspan Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub cut shares of Seaspan Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has an average rating of “Hold” and an average price target of $6.79.

In other news, CEO Gerry Yougui Wang acquired 10,076 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $6.39 per share, for a total transaction of $64,385.64. Following the transaction, the chief executive officer now directly owns 2,042,848 shares of the company’s stock, valued at $13,053,798.72. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

A number of hedge funds and other institutional investors have recently made changes to their positions in SSW. California Public Employees Retirement System increased its holdings in Seaspan Corporation by 15.5% in the 1st quarter. California Public Employees Retirement System now owns 190,500 shares of the shipping company’s stock valued at $1,320,000 after acquiring an additional 25,500 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Seaspan Corporation 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 acquiring an additional 900,606 shares during the last quarter. UBS Group AG increased its holdings in Seaspan Corporation by 119.5% in the 1st quarter. UBS Group AG now owns 86,282 shares of the shipping company’s stock valued at $598,000 after acquiring an additional 46,975 shares during the last quarter. Bank of America Corp DE increased its holdings in Seaspan Corporation by 9.3% in the 1st quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 1,775 shares during the last quarter. Finally, Credit Suisse AG increased its holdings in Seaspan Corporation by 27.1% in the 1st quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock valued at $350,000 after acquiring an additional 10,759 shares during the last quarter. Institutional investors own 15.49% of the company’s stock.

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Seaspan Corporation (SSW) opened at $5.85 on Wednesday. The firm has a market cap of $724.69, a price-to-earnings ratio of 8.31, a PEG ratio of 1.73 and a beta of 0.66. Seaspan Corporation has a one year low of $5.02 and a one year 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.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 20th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.50 annualized dividend and a dividend yield of 8.55%. Seaspan Corporation’s payout ratio is 108.70%.

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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Earnings History and Estimates for Seaspan Corporation (NYSE:SSW)

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