The stock of Seaspan Corporation (NYSE:SSW) hit a new 52-week low and has $11.30 target or 8.00% below today’s $12.28 share price. The 5 months bearish chart indicates high risk for the $1.28B company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $11.30 price target is reached, the company will be worth $102.40M 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 348,277 shares traded hands. Seaspan Corporation (NYSE:SSW) has declined 32.41% since March 29, 2016 and is downtrending. It has underperformed by 35.89% the S&P500.
Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on November, 7. They expect $0.30 EPS, 0.00% or $0.00 from last year’s $0.3 per share. SSW’s profit will be $31.27M for 10.23 P/E if the $0.30 EPS becomes a reality. After $0.30 actual EPS 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 downgraded by Barclays Capital to “Equal Weight” on Monday, January 11. As per Friday, September 18, the company rating was initiated by BB&T Capital. The rating was downgraded by Wells Fargo to “Market Perform” on Friday, November 20. The firm has “Underweight” rating given on Friday, April 1 by Barclays Capital. The rating was initiated by JP Morgan on Friday, December 18 with “Underweight”.
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: “Better Buy: Seaspan Corporation vs. Navios Maritime Midstream Partners LP” on October 19, 2016, also Fool.com with their article: “Seaspan Corporation in 6 Charts” published on September 23, 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: “Will Seaspan Corporation Raise Its Dividend in 2017?” published on August 30, 2016 as well as Fool.com‘s news article titled: “Seaspan Corporation Puts Another $100 Million in the Bank” with publication date: June 13, 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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