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Seaspan Corporation Message Board

  • bbarberayr bbarberayr Mar 14, 2011 8:49 AM Flag

    Carlyle Agreement

    Interesting change in strategy by Gerry today - anyone able to figure out what it really means for SSW?

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    • Mr. Market smiling.

    • Mky - When SSW runs through $15.72 with major volume - IMHO we will see a new 52 week high.

    • Finally, someone agrees with my $18 per share calc

      Cantor Fitzgerald Upgrades Seaspan (SSW) to Buy; Substantially Raises Dividend Payout
      11:31 am ET 03/14/2011- StreetInsider
      Cantor Fitzgerald upgraded Seaspan (NYSE: SSW) from Hold to Buy. PT increased from $14 to $18. Cantor analyst says, "The increase in the dividend payout and re-entering of the newbuild market highlights the substantial cash flow generation capacity of the company, in our opinion. At current levels we suggest the stock represents a good value opportunity...We generally maintain our estimates. We now expect SSW to report 2011 and 2012 EPS of $1.51 (from $1.50) and $2.11, respectively, and 2011 and 2012 EBITDA of $411 million (from $410 million) and $529 million." For more ratings news on Seaspan click here and for the rating history of Seaspan click here. Shares of Seaspan closed at $15.41 yesterday, with a 52 week range of $9.30-$16.66.

    • When you look at the newbuild and cashflow projections - look for another 50% increase in 2012.

    • Lots of news hiding in this report and associated PR's like:

      Letter of intent for the next shipbuilding cycle after the current AND this little tidbit!

      "Seaspan's board of directors has adopted a progressive dividend policy aimed at increasing dividends in a manner that preserves its long-term financial strength and its ability to continue to expand its fleet. Mr. Wang added, "For 2011, we anticipate that we will be able to increase our annualized dividend by approximately 50 percent to $0.75 per share, starting with a $0.1875 per share dividend for the first quarter of 2011. We have distributed $6.965 per common share in cumulative dividends since our initial public offering in August 2005 and we are pleased to once again be in a position to increase our quarterly dividends for the second time in less than a year."


      For anybody who thought Jerry would sit still, well they were mistaken!

      I think this board might get noisier "REAL SOON"

      I just got home from being gone early morning---will be glad to hear reports of the webcall from others!



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