Pacific Basin 2343

Re: Pacific Basin 2343

Postby lithium » Mon Jan 11, 2010 6:16 pm

Breakout with volume today.
"Play Great Defence, not Great Offence "
User avatar
lithium
Boss' Left Hand Person
 
Posts: 624
Joined: Fri Sep 18, 2009 7:47 pm

Re: Pacific Basin 2343

Postby stilicon » Wed Mar 03, 2010 2:39 pm

After the release of the 2009 Results, Nomura fixes a TP @ HKD9,3. (CIMB was at HKD 8,15 on 22/1/10 and UOB-KH at HKD 6,6 on 20/1/10.)
That makes a large variation compared to the HKD 6,16 current price.
However, with a possible increase of maritime traffic, a certain diversification of the revenue streams (JV in UAE for offshores services starting to show profit for instance), with the confirmed policy of distributing 50% of the net profits, the current price seems reasonable.
P/B is at about 1. Even with a DDM model, with a 8% ROE exigence, a 5% increase in the 5 next years, the current price of HKD 6,16 implies a 2,3% LT growth, which seems very reasonable.
Not vested (yet).
Last edited by stilicon on Wed Mar 03, 2010 11:52 pm, edited 1 time in total.
stilicon
Coolie
 
Posts: 201
Joined: Fri Sep 12, 2008 5:21 pm

Re: Pacific Basin 2343

Postby winston » Wed Mar 03, 2010 3:56 pm

Not vested. Good Management ...

DJ MARKET TALK: Pacific Basin Has Upside Growth Potential - CIMB

1523 [Dow Jones] Pacific Basin (2343.HK) down 1.1% at HK$6.17 on profit-taking after FY09 results, (stock +7.8% vs end-January level). CIMB says core net profit was 18% below house's forecast, but tips potential upside to earnings going forward.

FY09 profit hit by higher-than-expected charter-hire expenses; proposed final dividend of HK$0.15/share, taking FY DPS to HK$0.23 (50% payout), also 18% below house view.

"We are leaving our sum-of-the-parts target price of HK$8.15 and earnings forecasts unchanged for now, although we think there is upside potential given the strength in handysize rates and more fleet acquisitions."

Expects these to be key re-rating catalysts. Keeps at Outperform.


Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby stilicon » Wed Mar 03, 2010 5:19 pm

More TP moves today...
GS says TP @ HKD6,9
JPM says HKD7,2,
RBS says HKD7,15.
stilicon
Coolie
 
Posts: 201
Joined: Fri Sep 12, 2008 5:21 pm

Re: Pacific Basin 2343

Postby winston » Fri Oct 29, 2010 7:53 am

Not vested. From GS:-

Pacific Basin 2343 HK announced its 3Q trading statement, which affirmed our positive 12-month view of the stock.

There were three takeaways from the announcement:

(1) PB stated that the dry bulk market has recovered earlier than it expected, and anticipates the seasonal rate improvement to continue until early 2011;

(2) contract cover is in place for 96% of our combined handysize and handymax revenue
days in 2010 and 46% in 2011, reducing earnings uncertainty; and

(3) fleet expansion continued, with three more dry bulk vessels added since the interim results.

On the back of the better-than-expected contracted rates, we are raising our earnings estimates by 13.2%, 4.0%, and 7.2% for 2010E, 2011E, and 2012E, respectively, to reflect higher assumed rates.

Our new 12-month target price of HK$8.30 (from HK$7.70) is based on a target fleet multiple of 1.78X, which is derived from a return-on-fleet assumption of 14.9% against a WACC of 9.6%. Keep Buy rating.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Mon Nov 07, 2011 3:04 pm

not vested

DJ MARKET TALK: UBS Upgrades Pacific Basin To Buy From Neutral

1451 [Dow Jones] STOCK CALL: UBS upgrades Pacific Basin (2343.HK) to Buy from Neutral;

The house believes the company will see earnings improvement in 2012, with its Handysize segment experiencing less severe capacity oversupply.

Year-to-date, Handysize vessel capacity grew only by 2.9% on-year, compared with the 10.1% on-year growth of the total dry bulk fleet during the same period, UBS says.

"In terms of valuation, the company is currently trading close to its historical trough level. We expect limited downside risk."

It trims its target to HK$4.60 from HK$4.70, after cutting its FY11 and FY12 EPS forecasts to US$0.02 and US$0.04, respectively, from US$0.04 and US$0.05.

The stock is down 1.7% at HK$3.55.

Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Fri Mar 02, 2012 6:09 am

not vested

Earnings sink 69pc at Pacific Basin

Earnings at dry bulk cargo carrier Pacific Basin Shipping (2343) dived as dry bulk freight rates weakened.

The firm reported net income of US$32 million (HK$248.1 million) for last year, down 69.3 percent from a year ago. Earnings per share fell sharply to 13 HK cents from 42 HK cents.

Revenue increased 5.8 percent to US$1.3 billion. Daily income from smaller vessels, or handysize ships, declined 19 percent to US$13,530 a day, while spot freight rates tumbled 36 percent to US$10,025 a day.

The plunge in earnings was also a result of a US$80 million non-cash impairment related to investment in cargo vessels.

"Dry bulk freight rates will be weaker this year, but the towage business is improving," said executive director and chief executive Klaus Nyborg. He was referring to vessels such as barges and tugs.

Nyborg also announced he will resign next week and will relocate to Denmark with his family.

There were no disagreements with the board, he said in a statement yesterday.

The board will announce a successor by the end of this month. The firm proposed a final dividend of 5 HK cents per share, down 69.7 percent from 2010. Full-year dividend payout was 10 HK cents per share last year. Shares closed flat at HK$4.04.


http://www.thestandard.com.hk/news_deta ... 20302&fc=8
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby winston » Fri Mar 02, 2012 1:32 pm

not vested

DJ MARKET TALK: Pacific Basin Offers Compelling Value - Citigroup

1308 [Dow Jones] Citigroup advises buying Pacific Basin (2343.HK) on weakness, and keeps its HK$4.40 target price.

The house says positive catalysts for the dry bulk shipper include a strong balance sheet and cash flows which enable the company to buy assets at attractive prices during the current downturn and ride an eventual recovery with a low cost base;

Continued profit improvement in Towage; and shares trading at 0.6X FY12E P/B, "offering compelling value for a still-profitable company with strong balance sheet and cash flow."

Pacific Basin is down 3.0% at HK$3.92 midday.

Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

Re: Pacific Basin 2343

Postby Atlas » Fri Mar 02, 2012 5:16 pm

Earnings sink 69pc at Pacific Basin


and stock up nearly 5% at the closing. That's a 9% intraday movement. Complete madness, just like what happened with ND Paper the other day.

The worse the numbers, the higher the rise. Hoping for a "turnaround" and/or maybe just short covering?
Atlas
Loafer
 
Posts: 97
Joined: Fri Nov 20, 2009 10:39 pm

Re: Pacific Basin 2343

Postby winston » Thu Apr 05, 2012 6:37 am

not vested

Shares of shippers - key to trade - have suffered as fuel costs rise and freight rates fall amid sliding exports.

But relatively speaking, dry bulk and RoRo shipping service providers - such as Pacific Basin Shipping (2343) - have fared better than their peers due largely to steady orders from energy and infrastructure companies.

Pacific Basin earned a net profit of US$32 million (HK$249.6 million) last year versus US$104 million in 2010. It believes rising wealth in emerging nations will lift demand for dry bulk commodities in the next few years, while fewer vessels are built worldwide due to depleting order books.

Credit Suisse gives Pacific Basin a HK$5.90 target - equivalent to a 2012 price-to-book ratio of one times (1x).

This ratio compares the market valuation of a company to the value of that firm as indicated on its financial statements.


Source: Dr. Check, The Standard HK
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118539
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to L to R

Who is online

Users browsing this forum: No registered users and 8 guests

cron