The stock of Seaspan Corporation (NYSE:SSW) hit a new 52-week low and has $12.26 target or 8.00% below today’s $13.33 share price. The 9 months bearish chart indicates high risk for the $1.37B company. The 1-year low was reported on Sep, 30 by Barchart.com. If the $12.26 price target is reached, the company will be worth $109.60M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 394,150 shares traded hands. Seaspan Corporation (NYSE:SSW) has declined 21.44% since February 26, 2016 and is downtrending. It has underperformed by 31.87% the S&P500.
Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on November, 7. They expect $0.30 earnings per share, 0.00% or $0.00 from last year’s $0.3 per share. SSW’s profit will be $30.83M for 11.11 P/E if the $0.30 EPS becomes a reality. After $0.30 actual earnings per share reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Seaspan Corporation (NYSE:SSW) Ratings Coverage
Out of 4 analysts covering Seaspan (NYSE:SSW), 0 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 0 are positive. Seaspan has been the topic of 5 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The rating was initiated by BB&T Capital with “Hold” on Friday, September 18. The stock of Seaspan Corporation (NYSE:SSW) has “Underweight” rating given on Friday, December 18 by JP Morgan. The rating was downgraded by Barclays Capital to “Underweight” on Friday, April 1. The rating was downgraded by Wells Fargo on Friday, November 20 to “Market Perform”. The rating was downgraded by Barclays Capital on Monday, January 11 to “Equal Weight”.
According to Zacks Investment Research, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters.”
More notable recent Seaspan Corporation (NYSE:SSW) news were published by: Fool.com which released: “Seaspan Corporation in 6 Charts” on September 23, 2016, also Fool.com with their article: “Will Seaspan Corporation Raise Its Dividend in 2017?” published on August 30, 2016, Fool.com published: “Seaspan Corporation: One Risk to Watch Closely” on June 02, 2016. More interesting news about Seaspan Corporation (NYSE:SSW) were released by: Fool.com and their article: “Seaspan Corporation Puts Another $100 Million in the Bank” published on June 13, 2016 as well as Fool.com‘s news article titled: “Seaspan Corporation’s Rising Fleet Drives Earnings” with publication date: July 26, 2016.
SSW Company Profile
Seaspan Corporation, incorporated on May 3, 2005, is an independent charter owner and manager of containerships. The Firm charters pursuant to long-term, fixed-rate time charters with various container liner companies. The Firm operates a fleet of approximately 90 containerships. The Company’s operating vessels include YM Wish, YM Wellhead, YM Witness, COSCO Glory, MOL Emissary, MOL Efficiency, CSCL Brisbane, Jakarta Express, CSCL Manzanillo and Guayaquil Bridge.
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