Seaspan Corporation (NYSE:SSW) Given Average Recommendation of “Hold” by Brokerages
Seaspan Corporation (NYSE:SSW) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.79.
Several brokerages recently issued reports on SSW. Zacks Investment Research upgraded Seaspan Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Thursday, June 29th. BidaskClub raised Seaspan Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price objective on shares of Seaspan Corporation in a report on Friday, July 14th. ValuEngine downgraded Seaspan Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Citigroup Inc. raised Seaspan Corporation from a “sell” rating to a “neutral” rating and set a $7.00 target price on the stock in a report on Tuesday, May 2nd.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its position in shares of Seaspan Corporation by 157.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115,053 shares of the shipping company’s stock valued at $797,000 after buying an additional 70,309 shares in the last quarter. Clinton Group Inc. boosted its position in shares of Seaspan Corporation by 42.1% in the first quarter. Clinton Group Inc. now owns 105,621 shares of the shipping company’s stock worth $732,000 after buying an additional 31,312 shares during the period. Quantbot Technologies LP purchased a new position in shares of Seaspan Corporation during the first quarter worth about $195,000. Private Advisor Group LLC purchased a new position in shares of Seaspan Corporation during the first quarter worth about $111,000. Finally, Airain ltd boosted its position in shares of Seaspan Corporation by 261.7% in the first quarter. Airain ltd now owns 117,955 shares of the shipping company’s stock worth $817,000 after buying an additional 85,345 shares during the period. 13.35% of the stock is currently owned by institutional investors.
Shares of Seaspan Corporation (NYSE:SSW) opened at 6.46 on Friday. Seaspan Corporation has a 52 week low of $5.02 and a 52 week high of $15.32. The firm’s 50-day moving average price is $6.66 and its 200-day moving average price is $6.82. The firm’s market cap is $761.23 million.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 20th were issued a $0.125 dividend. The ex-dividend date was Tuesday, July 18th. This represents a $0.50 annualized dividend and a yield of 7.74%. Seaspan Corporation’s dividend payout ratio is currently -29.94%.
Seaspan Corporation Company Profile
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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