Jefferies Reiterates a 'Buy' on Seaspan (SSW); Raising Nmbers as Q4 Results Top Estimates
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Price: $9.91 --0%
Rating Summary:
2 Buy, 7 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 43
Rating Summary:
2 Buy, 7 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 43
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Jefferies reiterates a 'Buy' on Seaspan (NYSE: SSW) price target raised from $19 to $21.
Jefferies anlyst says, "Yesterday, Seaspan reported adjusted 4Q11 EPS of $0.31, which exceeded both Street consensus of $0.28 and our estimate of $0.27 primarily due to lower than expected interest expense during the quarter and a reduction in preferred dividends paid in the quarter. Importantly, the company also announced a 33% increase to the company's common share dividend."
"We are modestly increasing our 2012 EPS estimate (from $1.31 to $1.35) primarily to reflect a decrease in the number of shares outstanding as well as a decrease in preferred dividend payments after the Company redeemed all of the outstanding Class B preferred shares in 4Q11. We are also introducing our 2013 EPS estimate, which is based on Post Panamax and Panamax rates of $17,000 per day and $15,000 per day, respectively."
For an analyst ratings summary and ratings history on Seaspan click here. For more ratings news on Seaspan click here.
Shares of Seaspan closed at $18.51 yesterday.
Jefferies anlyst says, "Yesterday, Seaspan reported adjusted 4Q11 EPS of $0.31, which exceeded both Street consensus of $0.28 and our estimate of $0.27 primarily due to lower than expected interest expense during the quarter and a reduction in preferred dividends paid in the quarter. Importantly, the company also announced a 33% increase to the company's common share dividend."
"We are modestly increasing our 2012 EPS estimate (from $1.31 to $1.35) primarily to reflect a decrease in the number of shares outstanding as well as a decrease in preferred dividend payments after the Company redeemed all of the outstanding Class B preferred shares in 4Q11. We are also introducing our 2013 EPS estimate, which is based on Post Panamax and Panamax rates of $17,000 per day and $15,000 per day, respectively."
For an analyst ratings summary and ratings history on Seaspan click here. For more ratings news on Seaspan click here.
Shares of Seaspan closed at $18.51 yesterday.
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