Troubled Competitor Makes World Fuel Services Corp. An Interesting Play
- Large INT competitor, OW Bunker, has fraud and teeters on edge of nankruptcy.
- EBIT margin for INT's Marine Segment have been depressed in recent years.
- A return to past margins for Marine Segment could lead to large upside in INT's EPS.
L.B. Foster: Above Average Growth In Rail Services At A Below Average Price
- FSTR provides exposure to the North American rail renaissance through its rail services segment.
- The stock is trading at the low end of its historical valuation range.
- FSTR has $7.26 per share in net cash, and likely to deploy soon via acquisitions.
Northwest Pipe: Addition By Subtraction, Street EPS Estimates Missing The Full Benefit
- The divestiture of Houston and Bossier City OCTG pipe mills removed a money losing business from the Tubular segment, allowing the Atchison mill’s performance to shine.
- My pro forma ex-items EPS for 2013 improves by $0.62, from $1.75 to $2.37.
- NWPX’s future earnings contributions to be primarily from Water segment. Outlook for large projects with significant potential order profiles looks the best in years.
- Water peer group valuation suggests NWPX currently trades at over a 40% discount based on P/E multiples for my 2014 EPS estimate of $2.51.
- Management continues to successfully transform the return and earnings profile of this company. With increased capital flexibility post-divestiture, look for future tuck-in acquisitions in the Water segment.
- A Sale Of Northwest Pipe's OCTG Segment Could Unlock A Massive Return For Shareholders
- What Yesterday's OCTG Trade Case Means For U.S. Pipe Manufacturers
- It's Not Too Late To Sell Refiners Tied To Brent/WTI Oil Spread
- What The Street Might Be Missing On Refiners; Why The Brent/WTI Spread Might Continue To Contract
- Northwest Pipe: A Value Stock With Significant Return Potential