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  • ContraIndicator ContraIndicator Aug 9, 2007 12:07 PM Flag

    Why has EXM been sluggish recently

    A few days ago, most stocks had a very bad day, including those in the dry bulk sector. Since then, others ,such as EGLE, GNK, DRYS have corrected upward significantly.

    EXM has not participated in this upward correction. Is the reason for the sluggishness due to an uncertainty regarding their earnings to be reported next Monday? Why would there be such uneasiness given the positive earnings from other companies in the same business?

    Does the current price already discount any negative surprise? Normally when there is disappointment, the market overreacts, the stock becomes oversold, then buyers come in and snatch up shares at the discounted prices and the stock price returns to the more normal level minus all the emotional overreaction.

    Is not the future overall economic trend for EXM's business positive?

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    • I think some investors are afraid that earnings will be lower than the concensus of analysts ($0.57).It happened twice before.Many boats were repaired recently.EXM has an old fleet compared to DRYS and EAGLE .Excerps from an old article(17-july-07) : Mavrinac raised price targets on drybulk stocks by an average of 31 percent, and raised the second-quarter and full-year estimates for most players. The analyst noted he slightly lowered estimates of two companies, Eagle Bulk Shipping and Excel Maritime, because of elevated operational expenses. Just my opinion