SEASPAN CORP/SH SH (NYSE:SSW) Announces Quarterly Earnings Results

SEASPAN CORP/SH SH (NYSE:SSW) released its quarterly earnings data on Wednesday. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03, Briefing.com reports. The firm had revenue of $275.42 million for the quarter, compared to analyst estimates of $277.26 million. SEASPAN CORP/SH SH had a return on equity of 9.89% and a net margin of 40.70%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. SEASPAN CORP/SH SH updated its FY 2019 guidance to EPS.

Shares of NYSE SSW traded down $0.09 during trading hours on Friday, reaching $10.10. 441,376 shares of the stock were exchanged, compared to its average volume of 448,721. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. SEASPAN CORP/SH SH has a 52 week low of $7.05 and a 52 week high of $10.70. The company’s fifty day simple moving average is $9.98.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 22nd were paid a $0.125 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.50 annualized dividend and a yield of 4.95%. SEASPAN CORP/SH SH’s dividend payout ratio is 40.98%.

Several hedge funds and other institutional investors have recently made changes to their positions in SSW. BlackRock Inc. increased its stake in shares of SEASPAN CORP/SH SH by 30.4% during the fourth quarter. BlackRock Inc. now owns 3,088,699 shares of the shipping company’s stock worth $24,184,000 after purchasing an additional 719,762 shares during the period. Citigroup Inc. increased its stake in shares of SEASPAN CORP/SH SH by 155.3% during the fourth quarter. Citigroup Inc. now owns 7,197 shares of the shipping company’s stock worth $57,000 after purchasing an additional 4,378 shares during the period. Northern Trust Corp increased its stake in shares of SEASPAN CORP/SH SH by 3.6% during the fourth quarter. Northern Trust Corp now owns 136,059 shares of the shipping company’s stock worth $1,066,000 after purchasing an additional 4,680 shares during the period. Stifel Financial Corp bought a new position in shares of SEASPAN CORP/SH SH during the fourth quarter worth approximately $789,000. Finally, Two Sigma Advisers LP increased its stake in shares of SEASPAN CORP/SH SH by 4.8% during the fourth quarter. Two Sigma Advisers LP now owns 138,400 shares of the shipping company’s stock worth $1,084,000 after purchasing an additional 6,311 shares during the period. Institutional investors own 45.52% of the company’s stock.

Several analysts have issued reports on SSW shares. Jefferies Financial Group lowered SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Thursday, May 9th. Zacks Investment Research lowered SEASPAN CORP/SH SH from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.60.

About SEASPAN CORP/SH SH

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 for SEASPAN CORP/SH SH (NYSE:SSW)

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