SEASPAN CORP/SH SH (NYSE:SSW) Expected to Post Quarterly Sales of $277.29 Million

Equities research analysts expect SEASPAN CORP/SH SH (NYSE:SSW) to report $277.29 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for SEASPAN CORP/SH SH’s earnings. The lowest sales estimate is $271.50 million and the highest is $288.80 million. SEASPAN CORP/SH SH posted sales of $281.66 million during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The firm is expected to report its next earnings results on Wednesday, August 7th.

On average, analysts expect that SEASPAN CORP/SH SH will report full-year sales of $1.12 billion for the current fiscal year, with estimates ranging from $1.10 billion to $1.16 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.12 billion, with estimates ranging from $1.10 billion to $1.15 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for SEASPAN CORP/SH SH.

SEASPAN CORP/SH SH (NYSE:SSW) last issued its quarterly earnings data on Wednesday, May 1st. The shipping company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $285.30 million for the quarter, compared to analyst estimates of $287.14 million. SEASPAN CORP/SH SH had a return on equity of 9.67% and a net margin of 42.91%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS.

A number of brokerages have recently weighed in on SSW. 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 report on Thursday, May 9th. Zacks Investment Research lowered SEASPAN CORP/SH SH from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 18th. Two 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 stock. The company has a consensus rating of “Hold” and an average target price of $9.40.

Shares of SSW stock opened at $9.48 on Wednesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 1.13 and a beta of 0.77. SEASPAN CORP/SH SH has a fifty-two week low of $7.05 and a fifty-two week high of $10.72. The stock has a 50 day simple moving average of $9.48. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSW. Advisory Services Network LLC purchased a new position in shares of SEASPAN CORP/SH SH in the 4th quarter valued at approximately $34,000. Citigroup Inc. lifted its stake in shares of SEASPAN CORP/SH SH by 155.3% in the 4th quarter. Citigroup Inc. now owns 7,197 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 4,378 shares during the period. SG Americas Securities LLC purchased a new position in shares of SEASPAN CORP/SH SH in the 4th quarter valued at approximately $80,000. Financial Advocates Investment Management lifted its stake in shares of SEASPAN CORP/SH SH by 22.5% in the 4th quarter. Financial Advocates Investment Management now owns 6,859 shares of the shipping company’s stock valued at $95,000 after purchasing an additional 1,259 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of SEASPAN CORP/SH SH in the 4th quarter valued at approximately $122,000. Institutional investors own 45.60% 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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