Seaspan Corp. (SSW) Sees Strong Trading Volume
Seaspan Corp. (NYSE:SSW) saw unusually-strong trading volume on Friday . Approximately 608,134 shares were traded during mid-day trading, an increase of 102% from the previous session’s volume of 301,026 shares.The stock last traded at $13.91 and had previously closed at $14.17.
Several research firms have weighed in on SSW. Deutsche Bank AG downgraded Seaspan Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $12.00 in a research note on Tuesday, May 24th. Zacks Investment Research upgraded Seaspan Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.00.
The company’s 50-day moving average price is $14.84 and its 200-day moving average price is $16.01. The stock has a market capitalization of $1.46 billion and a PE ratio of 16.06.
Seaspan Corp. (NYSE:SSW) last released its earnings results on Monday, July 25th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. During the same period last year, the firm earned $0.22 EPS. The firm had revenue of $224.31 million for the quarter, compared to analyst estimates of $217.74 million. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts predict that Seaspan Corp. will post $1.22 earnings per share for the current fiscal year.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.