$279.69 Million in Sales Expected for Seaspan Co. (SSW) This Quarter

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Wall Street brokerages forecast that Seaspan Co. (NYSE:SSW) will announce sales of $279.69 million for the current quarter, Zacks reports. Seven analysts have issued estimates for Seaspan’s earnings, with the highest sales estimate coming in at $282.65 million and the lowest estimate coming in at $271.20 million. Seaspan posted sales of $204.61 million in the same quarter last year, which suggests a positive year-over-year growth rate of 36.7%. The firm is expected to report its next earnings report on Monday, July 30th.

According to Zacks, analysts expect that Seaspan will report full year sales of $1.09 billion for the current financial year, with estimates ranging from $1.06 billion to $1.09 billion. For the next fiscal year, analysts expect that the company will post sales of $1.17 billion per share, with estimates ranging from $1.13 billion to $1.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Seaspan.

Seaspan (NYSE:SSW) last released its earnings results on Wednesday, May 2nd. The shipping company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05). Seaspan had a net margin of 23.74% and a return on equity of 6.68%. The company had revenue of $224.78 million during the quarter, compared to analyst estimates of $223.36 million. During the same period in the previous year, the company posted $0.15 EPS.

Several equities analysts have weighed in on the company. Citigroup increased their target price on Seaspan from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Friday, May 4th. Bank of America raised Seaspan from an “underperform” rating to a “buy” rating in a research note on Thursday, May 3rd. Deutsche Bank raised Seaspan from a “hold” rating to a “buy” rating and increased their target price for the company from $7.00 to $13.00 in a research note on Thursday, April 19th. Morgan Stanley cut their target price on Seaspan from $6.00 to $5.50 and set an “underweight” rating on the stock in a research note on Monday, March 26th. Finally, Zacks Investment Research raised Seaspan from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.40.

Several institutional investors have recently made changes to their positions in SSW. Schwab Charles Investment Management Inc. increased its holdings in shares of Seaspan by 82.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 82,131 shares of the shipping company’s stock worth $555,000 after acquiring an additional 37,187 shares in the last quarter. Cue Financial Group Inc. increased its holdings in shares of Seaspan by 215.5% in the fourth quarter. Cue Financial Group Inc. now owns 54,900 shares of the shipping company’s stock worth $371,000 after acquiring an additional 37,500 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in shares of Seaspan in the fourth quarter worth about $497,000. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Seaspan in the fourth quarter worth about $2,759,000. Finally, Silver Capital Management LLC bought a new stake in shares of Seaspan in the fourth quarter worth about $500,000. Institutional investors own 12.77% of the company’s stock.

Seaspan traded down $0.23, hitting $8.73, during mid-day trading on Wednesday, Marketbeat Ratings reports. The company had a trading volume of 1,224,146 shares, compared to its average volume of 1,590,141. Seaspan has a fifty-two week low of $5.16 and a fifty-two week high of $9.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.38 and a beta of 0.50.

About Seaspan

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 Central, Hong Kong.

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Earnings History and Estimates for Seaspan (NYSE:SSW)

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