Today Bank of America Keeps a “Underperform” Rating on Seaspan (NYSE:SSW) and a $6.2 Target Price

March 16, 2018 - By Jan Rainey

 Today Bank of America Keeps a

Seaspan (NYSE:SSW) Rating Reaffirmed

Seaspan (NYSE:SSW) just had their share rating of a ‘”Underperform”‘ issued by research analysts at Bank of America, who now has a $6.2 PT on the $899.86 million market cap company or a -8.01 % downside potential. This key information was disclosed to clients in a report on Thursday morning.

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 has $20 highest and $500 lowest target. $9.53’s average target is 41.39% above currents $6.74 stock price. Seaspan had 18 analyst reports since September 18, 2015 according to SRatingsIntel. The firm has “Underweight” rating given on Wednesday, February 1 by Morgan Stanley. As per Friday, September 18, the company rating was initiated by BB&T Capital. On Friday, March 2 the stock rating was maintained by Bank of America with “Underperform”. The rating was downgraded by Barclays Capital to “Underweight” on Friday, April 1. The firm has “Neutral” rating by JP Morgan given on Thursday, March 2. The stock has “Sell” rating by Citigroup on Thursday, November 3. The firm earned “Buy” rating on Wednesday, January 24 by Seaport Global. The firm has “Buy” rating by Jefferies given on Monday, December 18. The stock of Seaspan Corporation (NYSE:SSW) earned “Underperform” rating by Credit Suisse on Monday, May 1. JP Morgan initiated Seaspan Corporation (NYSE:SSW) on Friday, December 18 with “Underweight” rating.

The stock increased 2.04% or $0.13 during the last trading session, reaching $6.74. About 1.90M shares traded or 17.42% up from the average. Seaspan Corporation (NYSE:SSW) has declined 64.89% since March 16, 2017 and is downtrending. It has underperformed by 81.59% the S&P500.

Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on April, 25. They expect $0.19 EPS, up 26.67 % or $0.04 from last year’s $0.15 per share. SSW’s profit will be $25.37M for 8.87 P/E if the $0.19 EPS becomes a reality. After $0.16 actual EPS reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts 18.75 % EPS growth.

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company has market cap of $899.86 million. The firm charters its containerships under long-term, fixed-rate time charters to various container liner companies. It has a 7.18 P/E ratio. As of May 26, 2017, it operated a fleet of 89 containerships.

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