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 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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Seaspan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seaspan and related companies with MarketBeat.com's FREE daily email newsletter.