Could Seaspan Corporation (SSW) See a Reversal After Breaking Its 52-Week High?

The stock of Seaspan Corporation (NYSE:SSW) hit a new 52-week high and has $12.63 target or 9.00 % above today’s $11.59 share price. The 7 months bullish chart indicates low risk for the $2.50B company. The 1-year high was reported on Sep, 13 by Barchart.com. If the $12.63 price target is reached, the company will be worth $224.91 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.17% or $0.02 during the last trading session, reaching $11.59. About 500,312 shares traded. Seaspan Corporation (NYSE:SSW) has risen 21.27% since September 13, 2018 and is uptrending. It has outperformed by 21.27% the S&P500.

Analysts await Seaspan Corporation (NYSE:SSW) to report earnings on October, 29. They expect $0.16 EPS, down 55.56 % or $0.20 from last year’s $0.36 per share. SSW’s profit will be $34.50 million for 18.11 P/E if the $0.16 EPS becomes a reality. After $0.17 actual EPS reported by Seaspan Corporation for the previous quarter, Wall Street now forecasts -5.88 % negative EPS growth.

Seaspan Corporation (NYSE:SSW) Ratings Coverage

Among 3 analysts covering Seaspan (NYSE:SSW), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Seaspan has $10.5000 highest and $5 lowest target. $8.50’s average target is -26.66% below currents $11.59 stock price. Seaspan had 3 analyst reports since March 15, 2019 according to SRatingsIntel. The firm has “Sell” rating given on Friday, March 15 by Morgan Stanley. The firm earned “Hold” rating on Thursday, May 9 by Jefferies.

More notable recent Seaspan Corporation (NYSE:SSW) news were published by: Seekingalpha.com which released: “Seaspan Corporation: Opportunity In An Ugly Industry – Seeking Alpha” on October 31, 2018, also Finance.Yahoo.com with their article: “Do Seaspan’s (NYSE:SSW) Earnings Warrant Your Attention? – Yahoo Finance” published on June 05, 2019, Seekingalpha.com published: “Seaspan Corp. – This 8% Fixed-To-Floating Preferred Stock Has Begun Trading On The NYSE – Seeking Alpha” on September 27, 2018. More interesting news about Seaspan Corporation (NYSE:SSW) were released by: Prnewswire.com and their article: “Seaspan Acquires 9600 TEU Vessel and Enters Into Three Year Time Charter with ONE – PRNewswire” published on September 09, 2019 as well as Finance.Yahoo.com‘s news article titled: “Should You Like Seaspan Corporation’s (NYSE:SSW) High Return On Capital Employed? – Yahoo Finance” with publication date: August 06, 2019.

Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company has market cap of $2.50 billion. The firm charters its containerships under long-term, fixed-rate time charters to various container liner companies. It has a 5.71 P/E ratio. As of May 26, 2017, it operated a fleet of 89 containerships.

Seaspan Corporation (NYSE:SSW) Ratings Chart

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