Does Seaspan Corporation (SSW) Have Any Gas After Forming This Bullish Double Top?

June 19, 2018 - By reb123z

The chart of Seaspan Corporation (SSW) shows a double top with $9.00 target or 5.00 % above today’s $8.57 share price. The 7 months chart pattern indicates low risk for the $1.17 billion company. It was reported on Jun, 19 by Finviz.com. If the $9.00 price target is reached, the company will be worth $58.25M more. Double tops are rare but powerful chart patterns.

The stock decreased 2.06% or $0.18 during the last trading session, reaching $8.57. About 175,841 shares traded. Seaspan Corporation (NYSE:SSW) has risen 47.60% since June 19, 2017 and is uptrending. It has outperformed by 35.03% the S&P500.

Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on July, 30. They expect $0.23 EPS, up 35.29 % or $0.06 from last year’s $0.17 per share. SSW’s profit will be $31.27 million for 9.32 P/E if the $0.23 EPS becomes a reality. After $0.13 actual EPS reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts 76.92 % EPS growth.

Seaspan Corporation (NYSE:SSW) Ratings Coverage

Among 5 analysts covering Seaspan (NYSE:SSW), 3 have Buy rating, 1 Sell and 1 Hold. Therefore 60% are positive. Seaspan has $1300 highest and $5.5 lowest target. $9.25’s average target is 7.93% above currents $8.57 stock price. Seaspan had 8 analyst reports since January 24, 2018 according to SRatingsIntel. The rating was maintained by Morgan Stanley on Monday, February 12 with “Underweight”. On Thursday, March 15 the stock rating was maintained by Bank of America with “Underperform”. The firm earned “Buy” rating on Wednesday, January 24 by Seaport Global. Bank of America maintained Seaspan Corporation (NYSE:SSW) rating on Friday, March 2. Bank of America has “Underperform” rating and $6 target. The firm has “Underweight” rating by Morgan Stanley given on Monday, March 26. Citigroup maintained it with “Neutral” rating and $8.5 target in Friday, May 4 report. As per Thursday, April 19, the company rating was upgraded by Deutsche Bank. The stock of Seaspan Corporation (NYSE:SSW) has “Buy” rating given on Thursday, May 3 by Bank of America.

More important recent Seaspan Corporation (NYSE:SSW) news were published by: Hellenicshippingnews.com which released: “Better Shipping Stock to Buy: Seaspan Corporation vs. Diana Shipping” on June 19, 2018, also Seekingalpha.com published article titled: “Is It Time To Sell Seaspan?”, Seekingalpha.com published: “Market Bias Against Bearish Coverage: Seaspan Case Study” on May 29, 2018. More interesting news about Seaspan Corporation (NYSE:SSW) was released by: Streetinsider.com and their article: “Seaspan (SSW) Says Fairfax Financial Invested Additional $500 Million” with publication date: May 31, 2018.

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company has market cap of $1.17 billion. The firm charters its containerships under long-term, fixed-rate time charters to various container liner companies. It currently has negative earnings. As of May 26, 2017, it operated a fleet of 89 containerships.

Seaspan Corporation (NYSE:SSW) Ratings Chart

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