Analysts Anticipate SEASPAN Corp/SH SH (SSW) Will Announce Earnings of $0.27 Per Share

Wall Street brokerages predict that SEASPAN Corp/SH SH (NYSE:SSW) will announce $0.27 earnings per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for SEASPAN Corp/SH SH’s earnings, with estimates ranging from $0.20 to $0.31. SEASPAN Corp/SH SH reported earnings of $0.16 per share in the same quarter last year, which indicates a positive year over year growth rate of 68.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that SEASPAN Corp/SH SH will report full year earnings of $0.93 per share for the current year, with EPS estimates ranging from $0.80 to $1.04. For the next year, analysts expect that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.69 to $1.26. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover SEASPAN Corp/SH SH.

SEASPAN Corp/SH SH (NYSE:SSW) last posted its quarterly earnings results on Tuesday, October 30th. The shipping company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. SEASPAN Corp/SH SH had a net margin of 27.00% and a return on equity of 7.89%. The company had revenue of $294.98 million during the quarter, compared to the consensus estimate of $292.96 million. During the same period last year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 39.8% on a year-over-year basis.

Several research analysts recently issued reports on SSW shares. Zacks Investment Research upgraded SEASPAN Corp/SH SH from a “strong sell” rating to a “hold” rating in a research report on Friday, August 10th. Deutsche Bank downgraded SEASPAN Corp/SH SH from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.00 to $9.00 in a research report on Wednesday, September 19th. ValuEngine downgraded SEASPAN Corp/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Finally, Wells Fargo & Co downgraded SEASPAN Corp/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 price objective for the company. in a research report on Friday, September 28th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.31.

Shares of SEASPAN Corp/SH SH stock opened at $9.45 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.51 and a quick ratio of 0.41. SEASPAN Corp/SH SH has a 1 year low of $5.50 and a 1 year high of $10.72. The company has a market cap of $1.20 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.66 and a beta of 0.24.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Monday, October 22nd were given a dividend of $0.125 per share. The ex-dividend date was Friday, October 19th. This represents a $0.50 annualized dividend and a dividend yield of 5.29%. SEASPAN Corp/SH SH’s dividend payout ratio is currently 75.76%.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in SEASPAN Corp/SH SH by 566.5% in the 1st quarter. BlackRock Inc. now owns 2,282,682 shares of the shipping company’s stock worth $15,248,000 after acquiring an additional 1,940,170 shares during the period. Millennium Management LLC grew its stake in SEASPAN Corp/SH SH by 1,741.5% in the 1st quarter. Millennium Management LLC now owns 1,149,747 shares of the shipping company’s stock worth $7,680,000 after acquiring an additional 1,087,311 shares during the period. Bank of America Corp DE grew its stake in SEASPAN Corp/SH SH by 1,373.5% in the 2nd quarter. Bank of America Corp DE now owns 652,592 shares of the shipping company’s stock worth $6,643,000 after acquiring an additional 608,303 shares during the period. Wells Fargo & Company MN grew its stake in SEASPAN Corp/SH SH by 155.3% in the 3rd quarter. Wells Fargo & Company MN now owns 979,821 shares of the shipping company’s stock worth $8,162,000 after acquiring an additional 596,062 shares during the period. Finally, DDD Partners LLC purchased a new stake in SEASPAN Corp/SH SH in the 2nd quarter worth approximately $5,400,000. Hedge funds and other institutional investors own 16.75% of the company’s stock.

SEASPAN Corp/SH SH Company Profile

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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Earnings History and Estimates for SEASPAN Corp/SH SH (NYSE:SSW)

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