The sovereign debt crisis in Greece hit Tsakos Energy Navigation (NYSE: TNP) had in 2011, culminating in the company closing at a 52-week low on December 30 of $4.78. The company traded in a range of $4.78 to $11.18 in 2011.
Other shipping companies hurt by the Greek sovereign debt crisis are Navios Maritime Partners (NYSE: NMM) and Diana Shipping (NYSE: DSX).
As for Tsakos Energy Navigation, they're in a good position financially if there is any improvment in the region, although it has to be taken into account and recognized that there is a reason for the sovereign debt crisis in the EU that is far from being resolved, and the unpredictability continues to weigh over the region and the shipping sector.
Tsakos has over $260 million in cash and a free cash flow of over $91 million. As of the close on December 30, they pay out a dividend of 12 percent. Navios Maritime Partners (NMM) is right behind them with a dividend pay out of 11.90 percent.
Diana Shipping (DSX) is also prepared to ride out an ongoing rough period, as they have about $373 million in cash on hand, with an operating profit of close to 50. China plays a major role in their business.
Tsakos, and the other two shippers mentioned, are worth watching as 2012 unfolds, with Taskos appearing to be the best opportunity for investors.
Showing posts with label Diana Shipping. Show all posts
Showing posts with label Diana Shipping. Show all posts
Tuesday, January 3, 2012
Monday, August 8, 2011
BofA (BAC) (CMA) (DNR) (DSX) (PEET) (WMS) Downgraded
Bank of America (NYSE: BAC), Comerica (NYSE: CMA), Denbury Resources Inc. (NYSE: DNR), Diana Shipping Inc. (NYSE: DSX), Peet's Coffee & Tea Inc (NASDAQ: PEET) and WMS Industries Inc. (NYSE: WMS) were downgraded by analysts.
Bank of America (BAC) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Comerica (CMA) was downgraded by Wells Fargo & Co. from an “Outperform” rating to a “Market Perform” rating.
Denbury Resources Inc. (DNR) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
Diana Shipping Inc. (DSX) was downgraded by Morgan Keegan from an “Outperform” rating to a “Market Perform” rating. They have a price target of $8.50 on the company, down from $14.00.
Peets Coffee & Tea Inc. (PEET) was downgraded by Gabelli from a “Buy” rating to a “Hold” rating.
WMS Industries Inc. (WMS) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Bank of America (BAC) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.
Comerica (CMA) was downgraded by Wells Fargo & Co. from an “Outperform” rating to a “Market Perform” rating.
Denbury Resources Inc. (DNR) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
Diana Shipping Inc. (DSX) was downgraded by Morgan Keegan from an “Outperform” rating to a “Market Perform” rating. They have a price target of $8.50 on the company, down from $14.00.
Peets Coffee & Tea Inc. (PEET) was downgraded by Gabelli from a “Buy” rating to a “Hold” rating.
WMS Industries Inc. (WMS) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.
Wednesday, February 23, 2011
Rio Tinto (RIO), Vale (VALE), Teck Resources (TCK), BHP (BHP) Battered as Commodity Futures Drop
Equities linked to commodities took a big hit, as Rio Tinto (RIO), Vale (VALE), Teck Resources (TCK) and BHP (BHP) all ended down on Tuesday.
BHP Billiton did better than its competitors, as the company announced a deal to acquire the Arkansas shale-gas assets of Chesapeake Energy (CHK) for close to $4.75 billion.
The selloff had an impact the shares of almost every company that plays in natural resources, from steelmakers to miners of industrial metals to chemicals producers to agricultural companies to the shipping concerns that transport those raw materials across the waters.
The drop in cyclical names came on the heels of a huge decline in the broader equities market Thursday, with the DJIA posting triple-digit losses as investors reacted to the prospect of a continually destabilizing Middle East and what that would do to oil prices.
Commodities futures led the tumble into the red. The front-month copper contract was falling nearly 17 cents to $4.32 a pound on the Globex division of the CME, declining from a record high of $4.66.
Agricultural commodities were also plunging. In Chicago trading, the May corn futures contract was losing 30 cents to fall below $7 a bushel.
The several reasons for the commodity declines. First, a growing number of traders believe the run-up in commodities prices has resulted a priced-to-perfection environment in basic materials stocks.
Recent concerns over the contagious Middle Eastern political unrest reached the first major oil producing nation in Libya this weekend, driving crude prices up.
Energy prices are connected with food prices, and inflation in both sectors has raised the possibility of central banks around the world putting inflation-cutting measures in place on their economies, which would slow growth.
The greatest uncertainty remains the Federal Reserve's zero-interest rate policy and quantitative-easing programs, and what the consequences to the economy, and commodities markets will be, once that rug is pulled out from under them.
The supply side of the commodities sector continues to look bullish, with the macro-trends still in place: food stocks are tight, and metals production still faces challenges.
It's demand that investors seem to be concerned about now, and the level to which any interest-rate tightening by monetary authorities around the world impacts international growth.
Steelmakers, already under pressure, probably fared the worst. ArcelorMittal's (MT) plummeted 5.3%, U.S. Steel (X) almost 7%, and AK Steel (AKS) 7.5%.
Fertilizer giants Potash (POT), CF Industries (CF) and Mosaic (MOS) were hit hard as well, falling 6.3%, 4% and 3.7%, respectively.
Dry-bulk shipping firms were also getting blasted. Diana Shipping(DSX) dropped close to 5%. DryShips (DRYS) was falling by a about the same, while Genco Shipping & Trading (GNK) plunged 7%.
BHP Billiton did better than its competitors, as the company announced a deal to acquire the Arkansas shale-gas assets of Chesapeake Energy (CHK) for close to $4.75 billion.
The selloff had an impact the shares of almost every company that plays in natural resources, from steelmakers to miners of industrial metals to chemicals producers to agricultural companies to the shipping concerns that transport those raw materials across the waters.
The drop in cyclical names came on the heels of a huge decline in the broader equities market Thursday, with the DJIA posting triple-digit losses as investors reacted to the prospect of a continually destabilizing Middle East and what that would do to oil prices.
Commodities futures led the tumble into the red. The front-month copper contract was falling nearly 17 cents to $4.32 a pound on the Globex division of the CME, declining from a record high of $4.66.
Agricultural commodities were also plunging. In Chicago trading, the May corn futures contract was losing 30 cents to fall below $7 a bushel.
The several reasons for the commodity declines. First, a growing number of traders believe the run-up in commodities prices has resulted a priced-to-perfection environment in basic materials stocks.
Recent concerns over the contagious Middle Eastern political unrest reached the first major oil producing nation in Libya this weekend, driving crude prices up.
Energy prices are connected with food prices, and inflation in both sectors has raised the possibility of central banks around the world putting inflation-cutting measures in place on their economies, which would slow growth.
The greatest uncertainty remains the Federal Reserve's zero-interest rate policy and quantitative-easing programs, and what the consequences to the economy, and commodities markets will be, once that rug is pulled out from under them.
The supply side of the commodities sector continues to look bullish, with the macro-trends still in place: food stocks are tight, and metals production still faces challenges.
It's demand that investors seem to be concerned about now, and the level to which any interest-rate tightening by monetary authorities around the world impacts international growth.
Steelmakers, already under pressure, probably fared the worst. ArcelorMittal's (MT) plummeted 5.3%, U.S. Steel (X) almost 7%, and AK Steel (AKS) 7.5%.
Fertilizer giants Potash (POT), CF Industries (CF) and Mosaic (MOS) were hit hard as well, falling 6.3%, 4% and 3.7%, respectively.
Dry-bulk shipping firms were also getting blasted. Diana Shipping(DSX) dropped close to 5%. DryShips (DRYS) was falling by a about the same, while Genco Shipping & Trading (GNK) plunged 7%.
Tuesday, November 30, 2010
Goldman (NYSE:GS) Launches Coverage on Diana Shipping (NYSE:DSX), Shares Soar
Shares of Diana Shipping (NYSE:DSX) have soared today as Goldman Sachs (NYSE:GS) announced they've initiated coverage on them with a "Buy" rating.
Volume is already up over 3 times the normal 3-month average.
Diana primarily ships dry bulk cargoes, with a large part of that being commodities like grain, coal, and iron ore.
They were trading at $13.37, gaining $0.74, or 5.86 percent as of 1:47 PM EST. Goldman placed a price target of $17 on them.
Volume is already up over 3 times the normal 3-month average.
Diana primarily ships dry bulk cargoes, with a large part of that being commodities like grain, coal, and iron ore.
They were trading at $13.37, gaining $0.74, or 5.86 percent as of 1:47 PM EST. Goldman placed a price target of $17 on them.
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