Could Seaspan Corporation (SSW) See a Reversal After This Very Strong Session?

March 14, 2018 - By Clifton Ray

The stock of Seaspan Corporation (NYSE:SSW) is a huge mover today! The stock increased 13.20% or $0.73 during the last trading session, reaching $6.26. About 5.02 million shares traded or 236.28% up from the average. Seaspan Corporation (NYSE:SSW) has declined 64.89% since March 14, 2017 and is downtrending. It has underperformed by 81.59% the S&P500.
The move comes after 5 months positive chart setup for the $835.15 million company. It was reported on Mar, 14 by We have $6.82 PT which if reached, will make NYSE:SSW worth $75.16M more.

Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on April, 25. They expect $0.19 earnings per share, up 26.67 % or $0.04 from last year’s $0.15 per share. SSW’s profit will be $25.35 million for 8.24 P/E if the $0.19 EPS becomes a reality. After $0.16 actual earnings per share reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts 18.75 % EPS growth.

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 had 17 analyst reports since September 18, 2015 according to SRatingsIntel. On Monday, January 11 the stock rating was downgraded by Barclays Capital to “Equal Weight”. Credit Suisse downgraded the stock to “Underperform” rating in Monday, May 1 report. The firm has “Underweight” rating given on Friday, April 1 by Barclays Capital. On Wednesday, January 24 the stock rating was upgraded by Seaport Global to “Buy”. JP Morgan initiated the stock with “Underweight” rating in Friday, December 18 report. Jefferies reinitiated the stock with “Buy” rating in Monday, December 18 report. The rating was maintained by Bank of America with “Underperform” on Friday, March 2. The rating was maintained by Morgan Stanley on Monday, February 12 with “Underweight”. The firm has “Underweight” rating by Morgan Stanley given on Wednesday, February 1. The firm earned “Sell” rating on Thursday, November 3 by Citigroup.

More important recent Seaspan Corporation (NYSE:SSW) news were published by: which released: “Is The Storm Over For Container Shipping?” on February 27, 2018, also published article titled: “Seaspan Corporation’s Earnings Continued Sinking in Q4”, published: “Better Buy: Seaspan Corporation vs. Diana Shipping Inc” on March 12, 2018. More interesting news about Seaspan Corporation (NYSE:SSW) was released by: and their article: “Seaspan (SSW) Acquires Greater China Intermodal Investments” with publication date: March 14, 2018.

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company has market cap of $835.15 million. The firm charters its containerships under long-term, fixed-rate time charters to various container liner companies. It has a 6.66 P/E ratio. As of May 26, 2017, it operated a fleet of 89 containerships.

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