May 11, 2015, 4:08 PM
- DryShips (NASDAQ:DRYS): Q1 EPS of -$0.04 misses by $0.07.
- Revenue of $492.11M (+7.6% Y/Y) beats by $9.61M.
May 10, 2015, 5:35 PM
- AMBC, APEI, ARCW, ARNA, ASEI, ATHX, BDE, CALL, CHMI, CLNE, CYTX, DEPO, DRYS, DTSI, EAC, ELON, FF, FMC, FMI, FTEK, FXEN, GBDC, GTY, HALO, HI, IPAR, IPXL, JUNO, LPSN, MBI, MCC, MDR, MNTX, MODN, MR, MTZ, MVNR, OME, OMER, ONTY, OPK, ORIG, PAAS, PEIX, PINC, PVA, RAX, REN, SCLN, SF, SFXE, TCRD, TEP, TRQ, TTEC, UNXL, VRTU, XON, YY, ZGNX
May 9, 2015, 11:27 AM
- The broadly-defined shipping sector continues to be volatile over the impact of oil price fluctuations and concerns over carrier/tanker supply along with charter rates.
- The Baltic Dry Index stands at 574 vs. a 52-week trading range of 509 to 1,484.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is down 9.4% over the last 52 weeks, although it trades with smoother peaks and troughs than the underlying stocks in the fund.
- Analysts are convinced that some value picks exist in the sector, although consensus is tricky to find. A few rough screens are listed below (add your own in the comments).
- Best YTD performance: Navios Maritime (NYSE:NAP) +37%, Scorpio Bulkers (NYSE:SALT) +35%, Tsakos Energy (NYSE:TNP) +31%, Golar LNG (NASDAQ:GLNG) +28%.
- Lowest price-to book value: DryShips (NASDAQ:DRYS) 0.14, Safe Bulkers (NASDAQ:SBLK) 0.32, Scorpio Bulkers 0.33, Navios Maritime Holdings (NYSE:NM) 0.34, GasLog (NYSE:GLOG) 0.39.
- Lowest forward P/E ratio: Danaos (NYSE:DAC) 4.43, Tsakos Energy 7.15, Navios Maritime Acquisition (NYSE:NNA) 7.25, Dorian (NYSE:LPG) 7.43, Dry Ships 7.57.
- Dividend yield: Navios Maritime Partners (NYSE:NMM) 15.2%, Capital Product Partners (NASDAQ:CPLP) 10.8%, Ship Finance International (NYSE:SFL) 10.8%, Teekay Offshore Partners (NYSE:TOO) 9.7%, Dynagas LNG Partners (NYSE:DLNG) 8.8%.
- Other shipping stocks: PRGN, FRO, NAT, OSK, TNK, FREE, ESEA, TOPS, DSX, SHIP, NM.
Apr. 15, 2015, 10:39 AM
- DryShips (NASDAQ:DRYS) receives a notice of non-compliance from the Nasdaq exchange due to its sub-$1 stock price.
- The company says it will consider its options over the next six months including a reverse stock split.
- Shares of Dry Ships are down 75% over the last 52 weeks.
Apr. 7, 2015, 12:46 PM
- Ocean RIG UDW (ORIG +3.3%) is initiated with an Accumulate rating and a $7.50 price target at Global Hunter, which says it is taking a long-term view of the stock despite the clear risks associated with the offshore drilling industry over the next few years.
- The firm believes ORIG's pro forma fleet of 13 ultra-deepwater rigs will exhibit superior performance throughout the cycle and that ORIG has an adequate financial position to remain viable until the next upturn.
- Global Hunter believes its long-term valuation will reflect the strength of ORIG's assets rather than the relationship to its liquidity constrained DryShips (DRYS +4.7%) parent.
Mar. 30, 2015, 4:12 PM
- DryShips (NASDAQ:DRYS) agrees to sell four Suezmax tankers through a subsidiary to entities controlled by CEO George Economou.
- There's also a potential deal on the table to sell six Aframax tankers.
- The Suezmax deal is for $245M and the Aframax is for an en-bloc sales price of $291M.
- The company plans to use much of the free cash generated from the deals to pay off an ABN AMRO bridge loan.
- DRYS +1.23% after hours.
Mar. 24, 2015, 11:28 AM
- ABN AMRO hones in on the shipping sector with a fresh round of initiations.
- Star Bulk (SBLK -0.8%) is started off with a Sell rating, along with DryShips (DRYS +0.3%) and Diana Shipping (DSX -2.3%).
- The Dutch investment firm isn't as bearish on Navios Maritime Holdings (NM -2%) which lands a Hold rating and $4.50 price target (slight upside).
- The Baltic Dry Index is inching higher this week, but is off 24% YTD and 63% over the last 52 weeks.
Feb. 26, 2015, 7:15 PM
- DryShips (NASDAQ:DRYS) fell 2.9% in today's trade after Q4 earnings fell short of analyst estimates.
- Arctic Securities sees no recovery in sight for dry bulk or drilling, reiterating its Sell rating and $0.70 target price; it sees the firm crude tanker market lasting into 2015, but notes that the tanker business is marginal compared to dry bulk and drilling.
- DRYS' recent equity issue allowed for a full repayment of convertible notes and solve near-term funding issues, but $200M of debt is set to mature in Q3 and a $120M loan from Ocean Rig (NASDAQ:ORIG) must be refinanced within the next 12 months; Arctic says this could prove to be difficult if dry bulk asset values continue to decline in tandem with the ORIG share price.
Feb. 25, 2015, 4:06 PM
- DryShips (NASDAQ:DRYS): Q4 EPS of $0.02 misses by $0.02.
- Revenue of $598.41M (+38.7% Y/Y) beats by $46.73M.
- Shares -1.44%.
Feb. 24, 2015, 5:35 PM
- AEGN, AGO, AMSG, ANIK, AR, AREX, ARI, AVGO, AWR, BLDP, BMRN, BWC, CEMP, CHDN, CHMT, CLUB, CLVS, CRM, CSGP, CWT, CXO, DRYS, DXCM, EAC, EHTH, ELGX, EPAM, ESRT, ESV, FARO, FOE, GMED, GPOR, GXP, HK, IL, KW, LB, LGCY, LHCG, MCHX, MDVN, MELI, MMLP, OAS, ORIG, PGTI, PLKI, PRSS, PVA, RGR, RIG, RIGP, SBY, SFM, STAA, SYNC, TEG, TTEC, WDAY, WLL, WMGI, WPX, WR
Jan. 30, 2015, 2:58 PM
- The Baltic Dry Index falls another 3.8% and is now trading at its lowest levels since the 1980s, even as traded volumes of many commodities are reaching record levels.
- The dry-bulk market has been sunk by a perfect storm as new ships ordered after the financial crisis have hit the seas just as Chinese economic growth has slowed and commodity prices have turned lower.
- Earnings for a capesize vessel typically used to transport coal and iron ore have fallen to $6,707/day today, down ~50% Y/Y and hardly enough to cover daily operating expenses of $6K-$10K.
- As one analyst says, some of the share prices are starting to reflect almost a state of bankruptcy: Shares of Scorpio Bulkers (NYSE:SALT), for one, have plunged 85% in the past year, and Star Bulk Carriers (NASDAQ:SBLK) has shed 67% in the same period.
- Related tickers: FREE, EGLE, SB, DRYS, NM, SHIP, ESEA, PRGN, DCIX, GSL, NMM, DSX, DAC, KEX, ULTR, BALT, SINO.
Jan. 8, 2015, 9:14 AM
- DryShips (NASDAQ:DRYS) +3.9% premarket on news that its Ocean Rig UDW (NASDAQ:ORIG) subsidiary has secured a contract extension for one of its drillships with Eni (NYSE:E) and gains work for possibly another two units.
- As part of the contract extension for the Ocean Rig Poseidon, ORIG will adjust the existing dayrate of the Ocean Rig Poseidon contract and Eni will enter into two contracts for the employment of one or more of ORIG's available drillships in West Africa starting in Q1.
- DRYS says the agreement increases ORIG's total contract backlog by ~$187M.
Dec. 30, 2014, 12:48 PM
Dec. 22, 2014, 12:50 PM
Dec. 8, 2014, 12:45 PM
Dec. 2, 2014, 9:12 AM
DryShips, Inc. engages in ocean transportation services for drybulk and petroleum cargoes. The company operates its business through three segments: Drybulk and Offshore support. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility,... More
Country: United States