Deutsche Bank Downgrades Seaspan (SSW) to Hold; Moving To The Sidelines On Unfulfilled Potential

Deutsche Bank downgraded Seaspan (NYSE: SSW) from Buy to Hold.

Deutsche analyst says, "Yesterday, SSW reported Q3 normalized EPS of $0.29, ahead of our $0.27 estimate and Consensus of $0.28, driven by higher revenue. SSW declared its Q3 common dividend of $0.1875, inline with estimates and unchanged q/q (current dividend yield of 5.5%). We are downgrading shares of SSW to Hold as we have not seen the type of acquisition activity we were hoping would drive multiple expansion for the stock. Given current uncertainty in the container market and broader macro environment we have moved to the sidelines."

For more ratings news on Seaspan click here and for the rating history of Seaspan click here.

Shares of Seaspan closed at $13.59 yesterday.

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