I can't wait until the Q2 report and to listen to the newbies and idiots HOWL at the huge losses.
It's really a shame they can't read or understand financials and look at idiotic headlines for their "due diligence". IF they could think for themselves, they'd be running for the hills. This company will show their true colors next quarter and the MAIN color will be bright RED in HUGE quantities. Meanwhile, supra rates continue to erode? Now, ask, what's a Supra? Isn't that a Toyota?
Never going to happen. Let's see...huge revenue jump last quarter on the KLC settlement, and a $10M cash payment, yet cash flow continues to weaken. Do you have a clue what's happening? They bled $8.5M in cash from on-going operations. Try projecting that forward a few quarters...bankruptcy a much chance then $8/share. The only reason they aren't bankrupt is their banker is doing everything he can to keep them afloat. At some point the bank will want their money, or take the company over for themselves, as they have done with other shippers.
what is your rate forecast for supras that brings you to an $8/share price? my best estimate for earnings thru the end of 2015 is just less than $9,000/day on average - which - doesnt get me to $8 per share for egle. what inputs are you using? thanks, mike