Wednesday, February 20, 2013

Baltic Trading Is Still A Buy: Earnings Preview For 2012 Q4

I had recommended Baltic Trading (BALT) last August as a value stock, as it was trading at a discount to its net asset value (NAV, as defined later). In this article, I will review the current financial position of BALT, including my estimates for its upcoming earnings results. Baltic Trading is scheduled to report earnings for the fourth quarter of 2012 on Wednesday, February 20th, after the market closing.

BALT is a dry-cargo shipping company that owns a fleet of 9 vessels ranging in DWT capacity from 34,000 MT to 178,000 MT. The average age of the fleet as of December 31st, 2012 was 3.2 years, so BALT owns one of the most modern fleets among publicly traded shipping companies. Based on last Friday's closing price of $3.36 per share, the company has a market capitalization of $77.3 million.

Continue Reading

No comments:

Post a Comment