This Is Why Seaspan Corporation's Stock Sank 12.6% in November

This Is Why Seaspan Corporation's Stock Sank 12.6% in November

Shares of Seaspan Corporation (NYSE: SSW) plunged last month, falling nearly 13%, pushing the stock down a disappointing 35% so far this year. Last month's decline came after the company reported a mixed bag of third-quarter results and named a new CEO.

Investors seemed to focus on the negative numbers in that report. Revenue, for example, declined 6.2% year over year to $211 million. While that was in the middle of the company's guidance range of $209 million to $213 million, and higher than the second quarter, it missed analysts' expectations by just over $1 million. Meanwhile, earnings per share plunged 37.9% versus last year's third quarter, to $0.18 per share. While that matched the consensus estimate and was an improvement from the second quarter, investors apparently wanted more.

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Source: Fool.com