Hey, not to be a ball buster, but you're right everything is great!! but no one is watching or seems to care or believe. Would be nice to have some interest in the stock but no one seems to care.
Frankly, the company doesn't get rewarded for anything they do. They can buy ships, get higher rates, sell ships, long term contract, head fake a share buyback, but nothing moves this stock past 3.85. It really brings to question the whole business model of this entity. Question is there one? and really what might that be?
AF and company are always very proud of their ability to produce debt. Really they need to learn how to generate profits and reduce debt. I know..not really a greek culture item but just saying.
they aren't making a killing on the sales and now the earning power is being sold off.. company is just floundering in some of the best of times.
We view Navios Midstream's financial risk profile as "significant," reflecting
the company's relatively high Standard & Poor's-adjusted debt. The proposed
transaction stipulates that the company will raise a $205 million term loan B,
repay $124 million of existing credit facilities, and acquire two vessels from
Navios Maritime Acquisition Corp. for about $73 million. This will be partly
offset by more vessel operating days owing to the expanding fleet and the
resulting EBITDA increase. Accordingly, we forecast that Navios Midstream's
adjusted ratio of funds from operations (FFO) to debt will be about 25%-28%,
which is commensurate with the "significant" financial risk profile.
George is always behind the curve, could done this a year ago or 8 years ago and debt free but not to bright when it comes to managing a company. The share repayment to Orig and the sale of the tankers, will bring debt down. He will then sell off all the shares of Orig, Payoff the debt remaining and then Dryships will be sold as a debt free entity. He's too old to keep running it and taken enough for himself, but his ego and pride won't let him BK the company. He is already positioned himself for this. New boxships, Orig and Tankers. Drys will be sold. JMO.
Not to be an antagnoist really....but wait for what? These are the good ole days for tankers now! NNA IPO'd at 10 with 200 million in cash and NO boats. now 39 great rev's and profit , pays a dividend, growing but the stock cannot be moved up stuck under $4 and will dribble down from here. If the current rate environment can't move the stock really what can or will???
Agreed and today should have translated to share price increase. Best of times for tankers and nothing for the share holder but his/her nickel. No share buyback as predicted, stock popped and dropped and will continue to wallow and everyone will get their nickel a quarter.
IMO, NNA will drop down vlcc's meet or exceed forecasts, free up balance sheet and pop to 3.85 then wallow from 2.85 to 3.85 until the next earnings. Dividend will not change. Oh and the amount of shares "bought back" in the last quarter. IMO Zero. This is just the way it is.