The stock of Seaspan Corporation (NYSE:SSW) hit a new 52-week low and has $11.83 target or 6.00% below today’s $12.58 share price. The 9 months bearish chart indicates high risk for the $1.31 billion company. The 1-year low was reported on Oct, 18 by Barchart.com. If the $11.83 price target is reached, the company will be worth $78.60 million 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 129,813 shares traded hands. Seaspan Corporation (NYSE:SSW) has declined 30.47% since March 15, 2016 and is downtrending. It has underperformed by 35.95% 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 $31.24 million for 10.48 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. $16 is the highest target while $14 is the lowest. The $14 average target is 11.29% above today’s ($12.58) stock price. Seaspan has been the topic of 5 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The rating was downgraded by Barclays Capital to “Equal Weight” on Monday, January 11. BB&T Capital initiated Seaspan Corporation (NYSE:SSW) on Friday, September 18 with “Hold” rating. Wells Fargo downgraded Seaspan Corporation (NYSE:SSW) on Friday, November 20 to “Market Perform” rating. The stock has “Underweight” rating given by JP Morgan on Friday, December 18. On Friday, April 1 the stock rating was downgraded by Barclays Capital to “Underweight”.
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: “3 Things Seaspan Corporation’s CEO Wants You to Know” with publication date: August 15, 2016.
Seaspan Corporation is an independent charter owner and manager of containerships. The company has a market cap of $1.31 billion. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It has a 9.37 P/E ratio. It operates a fleet of approximately 90 containerships.
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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