-8.01 % to Target, Bank of America Reaffirms ‘”Underperform”’ Rating on Seaspan (NYSE:SSW) Shares Today

March 16, 2018 - By Migdalia James

  8.01 % to Target, Bank of America Reaffirms ‘

Seaspan (NYSE:SSW) Rating Reaffirmed

In a research report revealed to investors on Thursday morning, The “Underperform” rating of Seaspan (NYSE:SSW) shares was restate by Analysts at Bank of America, who now has a $6.2 target on the stock. Bank of America’s target would indicate a possible downside of -8.01 % from the last price of the company.

Seaspan Corporation (NYSE:SSW) Ratings Coverage

Among 12 analysts covering Seaspan (NYSE:SSW), 2 have Buy rating, 4 Sell and 6 Hold. Therefore 17% are positive. Seaspan has $20 highest and $500 lowest target. $9.53’s average target is 41.39% above currents $6.74 stock price. Seaspan had 18 analyst reports since September 18, 2015 according to SRatingsIntel. The rating was upgraded by Seaport Global to “Buy” on Wednesday, January 24. The rating was maintained by Bank of America on Friday, March 2 with “Underperform”. Citigroup downgraded Seaspan Corporation (NYSE:SSW) on Thursday, November 3 to “Sell” rating. The company was reinitiated on Monday, December 18 by Jefferies. Morgan Stanley maintained Seaspan Corporation (NYSE:SSW) rating on Monday, February 12. Morgan Stanley has “Underweight” rating and $6 target. Citigroup upgraded the shares of SSW in report on Tuesday, May 2 to “Neutral” rating. The firm has “Hold” rating given on Friday, September 18 by BB&T Capital. Barclays Capital downgraded Seaspan Corporation (NYSE:SSW) on Friday, April 1 to “Underweight” rating. The firm earned “Hold” rating on Tuesday, October 10 by Stifel Nicolaus. Barclays Capital downgraded Seaspan Corporation (NYSE:SSW) rating on Monday, January 11. Barclays Capital has “Equal Weight” rating and $16 target.

The stock increased 2.04% or $0.13 during the last trading session, reaching $6.74. About 1.90M shares traded or 17.42% up from the average. Seaspan Corporation (NYSE:SSW) has declined 64.89% since March 16, 2017 and is downtrending. It has underperformed by 81.59% the S&P500.

Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on April, 25. They expect $0.19 EPS, up 26.67 % or $0.04 from last year’s $0.15 per share. SSW’s profit will be $25.37M for 8.87 P/E if the $0.19 EPS becomes a reality. After $0.16 actual EPS reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts 18.75 % EPS growth.

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company has market cap of $899.86 million. The firm charters its containerships under long-term, fixed-rate time charters to various container liner companies. It has a 7.18 P/E ratio. As of May 26, 2017, it operated a fleet of 89 containerships.

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