+ Watch SHIP
on My Watchlist
Waiting for an uptick... it may be a little early but don't want to miss the boat
P/B, Interview with CEO at website, Growth Potential
the shipping industry,will pick up sooner then most ,think.check trucking & rails which will support this view.watch this stk and prgn
The market is really giving them no love. This is a spec play on my part, but its fallen so far, I figured why not give an up thumb to this reviled shipper? What could POSSIBLY go wrong? [the name DryShips is ringing in my ears] :)Book value at .25 times - this seems very cheap. And probably for good reason - they have a pretty substantial debt load ($300MM) and generally speaking, not the greatest balance sheet. BUT... they do have good operating cash flow for their size, and have been able to generate a decent operating profit during a pretty rough macroeconomic period. I could get burned by this, yes, but it's fallen so far, it was too tempting to pass up. We'll see how well it plays out.
Looking at last quarter's cash flows, it looks like I can expect at least 7-10 million per quarter in net operating profit. So... Lets say 30 million to be conservative. The market cap is only 70 millionUSD, so that is a P/OP of 2!!! I like that they are expanding at a time like this, even if I have my doubts about long term demand, because it shows that the management is gaming, gaming in a good way...I trust that they will do what they think is best for shareholders because insiders hold 60+%!
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