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Seaspan (SSW) in Focus: Stock Moves 13.4% Higher

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Seaspan Corporation was a big mover last session, as the company saw its shares rise more than 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 12.8% in the past one-month time frame.

The move came after the company announced that it has acquired the remaining 89% it did not own of Greater China Intermodal Investments LLC.

The company has seen two negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

 

Seaspan currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.

A better-ranked stock in the Transportation sector is Kirby Corporation (KEX - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is SSW going up? Or down? Predict to see what others think: Up or Down

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