UPDATE: Global Hunter Securities Upgrades Excel Maritime (EXM) to Neutral; Adjusting Estimates Ahead of Q2 Report
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Price: $0.47 --0%
Rating Summary:
0 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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(Updated - July 23, 2012 10:28 AM EDT)
Global Hunter Securities upgraded Excel Maritime (NYSE: EXM) from Reduce to Neutral.
Analyst, Natasha Boyden, said, " We initiated coverage of EXM back on May 22 with a Reduce rating. The stock has fallen 78% since the beginning of 2Q:12. Although we expect the stock could have further downside pressure from here as management looks to issue the $30 million in required equity by the end of 2012, we suggest investors wait on the sidelines. We are raising our rating to Neutral."
"...While we maintain our 2Q:12 EPS estimate of ($0.38), we lowered our 2012 and 2013 EPS estimates to ($1.53) and ($1.23), respectively, and our 2012 and 2013 EBITDA estimates to $64 million and $54 million, respectively."
For an analyst ratings summary and ratings history on Excel Maritime click here. For more ratings news on Excel Maritime click here.
Shares of Excel Maritime closed at $0.42 yesterday.
Global Hunter Securities upgraded Excel Maritime (NYSE: EXM) from Reduce to Neutral.
Analyst, Natasha Boyden, said, " We initiated coverage of EXM back on May 22 with a Reduce rating. The stock has fallen 78% since the beginning of 2Q:12. Although we expect the stock could have further downside pressure from here as management looks to issue the $30 million in required equity by the end of 2012, we suggest investors wait on the sidelines. We are raising our rating to Neutral."
"...While we maintain our 2Q:12 EPS estimate of ($0.38), we lowered our 2012 and 2013 EPS estimates to ($1.53) and ($1.23), respectively, and our 2012 and 2013 EBITDA estimates to $64 million and $54 million, respectively."
For an analyst ratings summary and ratings history on Excel Maritime click here. For more ratings news on Excel Maritime click here.
Shares of Excel Maritime closed at $0.42 yesterday.
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