UBS Maintains a 'Neutral' on Paragon Shipping (PRGN); Updating Price Target and Estimates
Tweet Send to a FriendGet Alerts PRGN Hot Sheet
Price: $5.03 -3.64%
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade PRGN Now!
UBS maintains a 'Neutral' on Paragon Shipping Inc. (NYSE: PRGN) price target raised from $0.75 to $0.90.
UBS analyst says, "Despite the release of its Q4/11 earnings, the write down to market value of the carrying amount of six of its vessels, and its most recently announced new time charters, we are updating our forecasts for Paragon. Our 2012 EPS estimate is slightly higher at a loss of $0.14 (from -$0.16); 2013 drops from -$0.06 to -$0.10."
"In our view, the weak sector fundamentals of the past several quarters are likely to continue through 2012...Despite our unenthusiastic outlook for 2012, we expect a marked improvement in the dry bulk shipping supply/demand imbalance in 2013, driving stronger freight rates and vessel market values."
For an analyst ratings summary and ratings history on Paragon Shipping Inc. click here. For more ratings news on Paragon Shipping Inc. click here.
Shares of Paragon Shipping Inc. closed at $0.86 yesterday, with a 52 week range of $0.55-$3.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
UBS analyst says, "Despite the release of its Q4/11 earnings, the write down to market value of the carrying amount of six of its vessels, and its most recently announced new time charters, we are updating our forecasts for Paragon. Our 2012 EPS estimate is slightly higher at a loss of $0.14 (from -$0.16); 2013 drops from -$0.06 to -$0.10."
"In our view, the weak sector fundamentals of the past several quarters are likely to continue through 2012...Despite our unenthusiastic outlook for 2012, we expect a marked improvement in the dry bulk shipping supply/demand imbalance in 2013, driving stronger freight rates and vessel market values."
For an analyst ratings summary and ratings history on Paragon Shipping Inc. click here. For more ratings news on Paragon Shipping Inc. click here.
Shares of Paragon Shipping Inc. closed at $0.86 yesterday, with a 52 week range of $0.55-$3.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- UPDATE: Leerink Swann Upgrades Bristol-Myers Squibb Co. (BMY) to Outperform
- Goldman Sees Blockbuster Potential for Bristol-Myers Squibb's (BMY) Nivolumab (PD-1)
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
