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EXCEL MARITIME CARR Message Board

  • fly_how_high fly_how_high Oct 5, 2004 10:41 PM Flag

    Look @ 5 day chart, Consolidation @ $37

    Look @ where it bounced off of last time before it made its run to $65....you guessed it, $37. What shorts need to realize, is that EXM went to $65 not just b/c of low float and short squeeze, there are fundamentals to back up the move. Net Income QUADROUPLED, Revenues DOUBLED last quarter. And to those who think EXM reports on a 6-month basis, you better go back and re-read their earnings announcement:


    "Excel Maritime Carriers Ltd (Amex: EXM - News), a fast-growing shipping company carrying dry bulk cargoes, reported results for the six months ended June 30, 2004, and stated its intention to commence quarterly reporting of its earnings in the future."

    And just because it looks so pretty, here are the earnings numbers:

    "For the six months ended June 30, 2004, net income increased to $17.2 million or $1.49 per share, as compared to $3.7 million or $0.32 per share for the first six months of the previous year, an increase of 338%. Revenues were $25.8 million, more than double revenue of $12.6 million for the first six months of 2003."


    Hey, EXM was a good short @ $60, but now EXM has pulled back $28 since mid September, that is quite a correction in a very short period of time, you better re-evaluate your short position and realize that you are shorting a stock that is going up for a reason, also, look @ TOPT, FRO, etc. today, the sector is on fire, do you really wanna short this guy when that is happeneing. Oh well, consider this your fair warning, those who dont cover will get burned on the way up like all the ones from $10-$65, good luck!

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    • those are NOT updated numbers. they must be based on their most recent annual report. EXM's cash position has quintupled since then, for example.

    • You sound desperate " Oh well, consider this your fair warning, those who dont cover will get burned on the way up like all the ones from $10-$65, " That is the whole point, it ran way too far too fast. It s nowhere near a reasonable pps. Keep catching the knife .

      • 1 Reply to ineedabidet
      • man, you need to wake up, seriously, ok read this (if you already haven't):


        "For the six months ended June 30, 2004, net income increased to $17.2 million or $1.49 per share, as compared to $3.7 million or $0.32 per share for the first six months of the previous year, an increase of 338%. Revenues were $25.8 million, more than double revenue of $12.6 million for the first six months of 2003."

        ok, lets think about this, they earned $1.49 for the previous 6 months, should be higher, but lets double it and call it $3 for the year, that means EXM has a P/E of 12, now the industry average is like 10 or something, BUT, nobody is growing as fast as EXM, net income up 465% and revenues up 105%! However, their future P/E is more like 10 when they release next earnings (check TCE rates) AND they dont have DEBT that all the others have (they only have $6.9M). So, like I said before, there is a reason that EXM went to $65!

    • yeah, it's a screaming buy!! It was grossly undervalued at $5 but now it's finally gotten to its real value. Buy 10,000 shares! Who's stopping you?

 
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