Look at the 10K from 25-Feb-2016. At the very bottom of the report is
a section on borrowings from credit facilities.
Click under Key Statistics under CAKE quote. Under the balance sheet heading it reads:
cash: 43.85M debt: 87.84M
This data was from Dec. 31st. The latest quarter has not been updated yet.
The company earned $34M this last quarter.
Debt load is low compared to static earnings, and even lower to future projected earnings.
Moo! Its a cash Cow!
Sentiment: Strong Buy
Cheesecake factory could pay off its entire debt with a couple of quarters of earnings. This company has
a long history of rewarding shareholders with stock buybacks and dividends. The business model is
Sentiment: Strong Buy
I re- read the article, and you need to replace "us with a bright future" to
"them with a bright future" . Zikos was collectively referred to ALL owners
of panamax ships.
Don't forget, CMRE has some post panamax ship under construction at this time.
CMRE seems to be able to lease their vessels though. Perhaps it may be the long
standing relationships that they have developed with their customers over many years.
The sales reps have probably dined the customers with many ouzos, meze, and feta.
And don't forget, this will have to be consumed while watching Greek belly dancers!
Use yourself as an example, you may have a favorite livery service, butcher shop,
or other service provider that you would not think twice about changing because they
have provided an excellent service at a reasonable price. I
Sentiment: Strong Buy
The distribution announced was the same as last quarter. When the SPH B.O.D. takes you out for lunch
and overfeeds you broccoli and beans, will you share with us in close quarters what they told you?
I just listened to the conference call. Should be stable cash flows for a couple of years. One development
is the that the new panamax class of ships will be able to go through Panama Canal in 2 months. CMRE
has some panamax ships being built. The other take is that demand is off, when that is going to change
is anyones guess.
I bought into this stock in the 11's. In most cases, I will stay with the stock until the story changes. What do
I know? Yes, HEES has some exposure to the oil industry, however, the infrastructure in this country is falling
apart in many areas. It will have to be fixed sooner or later. Democratic candidate Bernie Sanders has said that if he is elected president, there will be a big push from him on infrastructure rebuild. Not sure how Clinton stands on this, but whomever is president, the problem will still be there. HEES can only benefit from this.
In addition, HEES is still expanding. This company reminds me of the restaurant industry. Think Texas Roadhouse or Cheesecake Factory. America is a big country, HEES still has room to grow.
1/28/16 Conference Call
Greg Zikos CFO Costamare
"We like dividends. I have to remind you the founding family owns 65% of this company, so it is a
substantial recipient of those dividends."
The prospective acquisitor better have deep pockets in order for the family to sell this cash cow.
I think the selloff today I related to Chinese exports plunging. Don't know where U live, but nothing I pick
up in a store is made in America. The stuff has to get to our shores somehow.
I like the way you think. If I was building a new house I would use propane heat because its cleaner than oil.
To be sure, I'm betting that oil heating for residential will be phased out within 10 years.
I have to disagree with you on the natural gas lines. I live in New Hampshire. New England as a whole needs
more natural gas for power plants. Even though landowners are fighting it bitterly, Kinder Morgan is trying
to put a natural gas line through the state. We have already had a nuke plant in Vermont shut down, and a
coal plant in Mass is going offline soon. We will need the gas for power plants or we will be in the dark..
This industry is not as exciting as most, but I bought for the dividend. One thing STON has going in its
favor is that we have 1/3 of the country boomer age or higher and they will need to use a service such
as STON whether they like it or not.
One thing I caught during the conference call is that they are looking to sell excess land. This money can
be used to pay down debt or improve operations. I have a friend that lives next to a cemetery.
His favorite comment is "I have very quiet neighbors".