How Will Seaspan (NYSE:SSW) Stock React to The Latest Coverage By JP Morgan?

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How JP Morgan Currently Rates Seaspan (NYSE:SSW)

Analysts at JP Morgan have commenced coverage coverage for shares of Seaspan (NYSE:SSW) in a recent research report issued to clients on 18 December. The equities firm set a “Underweight” rating on the $1.55 billion market cap firm.

From a total of 7 analysts covering Seaspan (NYSE:SSW) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. Seaspan was the topic of 2 analyst reports since September 18, 2015 according to the firm StockzIntelligence Inc. Wells Fargo downgraded shares on November 20 to “Market Perform” rating.

Approximately 264,268 shares of stock traded hands. Seaspan Corporation (NYSE:SSW) has declined 26.74% since May 15, 2015 and is downtrending. It has underperformed by 22.93% the S&P500.

Seaspan Corporation is an independent charter owner and manager of containerships. The company has a market cap of $1.55 billion. The Firm charters primarily pursuant to long-term, fixed-rate time charters with various container liner companies. It has 14.79 P/E ratio. As of February 28, 2015, the Company operated a fleet of 77 containerships and had contracts for the purchase of an additional 13 newly-built containerships, which have scheduled delivery dates through October 2016.

According to Zacks Investment Research, “Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters.”

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