|Bid||0.00 x 1800|
|Ask||13.90 x 1200|
|Day's Range||13.77 - 14.04|
|52 Week Range||7.35 - 14.04|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||8.04|
|Earnings Date||Mar 3, 2020 - Mar 9, 2020|
|Forward Dividend & Yield||0.50 (3.63%)|
|1y Target Est||10.89|
DLA Piper represented Seaspan Corporation (NYSE: SSW), a leading independent charter owner and operator of containerships, in its acquisition of APR Energy Limited, a global leasing business that owns and operates a fleet of gas turbines and other power generation equipment, in an all-stock transaction valued at US$750 million including the assumption of debt.
Seaspan (SSW) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
For newly formed Atlas Corp., the name of the game is capital allocation. The recently established holding company will house Seaspan Corp. (NYSE: SSW), the world's largest containership lessor/operator, and Jacksonville-based APR Energy, the world's largest mobile gas turbine lessor, which Seaspan announced Thursday it had acquired for $750 million. The acquisition is a move by Seaspan's management team to expand beyond the maritime industry and become an asset manager in several verticals, Chairman David Sokol told investors Friday.
Jacksonville-based APR Energy, a global supplier of mobile energy generation, has been acquired for $750 million. Seaspan Corporation (NYSE: SSW), a charter owner and operator of containerships, has agreed to the purchase, which values APR at $425 million and includes $325 million in APR debt. Seaspan has created a holding corporation, Atlas Corp., to be the parent of both Seaspan and APR.
Seaspan Corp. announced Thursday a reorganization to create a new holding company, Atlas Corp., which will be come the parent of the containerships operator. The reorganization is aimed at providing operational transparency and advancing capital allocation initiatives. The company also announced a deal to buy mobile power services company APR Energy Ltd. in a stock deal valued at $750 million, including debt. The deal is expected to close in the first quarter of 2020. Under the holding company reorganization, Seaspan common and preferred shares will become holders of Atlas shares. Seaspan's stock, which was still inactive in premarket trading, has run up 44.7% year to date, while the S&P 500 has gained 24.0%.
HONG KONG , Nov. 21, 2019 /CNW/ - Seaspan Corporation ("Seaspan") (SSW) today announced that its Board of Directors has approved the implementation of a holding company reorganization (the "Proposed Reorganization"), to create a new holding company, Atlas Corp. ("Atlas"), which will become the new parent company of Seaspan. The Proposed Reorganization is intended to advance strategic capital allocation initiatives and provide operational transparency. In conjunction with the Proposed Reorganization, Seaspan also announced that it has entered into a definitive agreement to acquire APR Energy Limited ("APR"), a global leader in fast-track, mobile power solutions (the "Proposed Acquisition"; together with the "Proposed Reorganization", the "Proposed Transactions").
Seaspan Approaches One Million TEU with Acquisition of Fleet of Six High-Quality Containerships on Long-Term Charter for Total Purchase Price of $380 Million
Reporting Seaspan Corp.'s third-quarter earnings, Bing Chen, president and CEO of the world's largest containership charterer, said the company has increased its portfolio financing program by $500 million, to $1.5 billion, and wants to expand the company's fleet. "We see attractive opportunities among our network of partners and remain very focused on fleet growth at the right price," he said during a call with investment analysts. Chen believes the container shipping industry is stabilizing and "entering a new normal market by consolidation." He said the company will look at both new tonnage and existing ships for possible expansion, but that in the current market the company sees more attractive opportunities in the secondhand market.
Seaspan (SSW) delivered earnings and revenue surprises of 16.67% and -0.17%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Achieves highest quarterly utilization rate since 2011 of 99.6%, Closes $500 million accordion, increasing Portfolio Financing Program to $1.5 billion and finishes the quarter with over $912 million of ...
The Zacks Analyst Blog Highlights: Kinross Gold, Activision Blizzard, Manulife Financial, Vulcan Materials and Seaspan
Despite severe market fluctuations and concerns about global and U.S. economic slowdown, third-quarter 2019 results so far have not been as disappointing as expected initially.
Higher revenues at Ocean Freight and Ocean Services as well as Customs Brokerage and Other Services segments are expected to aid Expeditors' (EXPD) Q3 results.