Seaspan (NYSE:SSW) Moves On JP Morgan Initiating Coverage of Shares


How JP Morgan Currently Rates Seaspan (NYSE:SSW)

In a recent report published on 18 December, JP Morgan analyst just began issuing coverage of Seaspan (NYSE:SSW) with Underweight rating.

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 88,138 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 14.77 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.”