$TNK reported Q1 earnings with an adjusted EPS of $3.86 and declared a special dividend of $2.00, making a total of $2.25. The company is now debt-free. Meanwhile, shipping groups like Orient Overseas Int'l and COSCO Shipping Holdings saw a rise in their stock prices due to a 5-day streak in the Baltic Dry Index rebound. COSCO Shipping surged over 7% to hit a new high in more than 20 months. In contrast, $STNG also reported its Q1 results with an adjusted EPS of $3.97 and a 40 cent dividend. The company's net debt stood at $810 million as of May 8. Additionally, analyst notes from Jefferies showed positive outlooks for shipping companies like $TNK and $GNK, with price targets raised. BOA also increased price targets for $TNK and $STNG, with the latter seeing its PT raised to $82 from $72. Pareto's analysis suggested a positive outlook for $STNG, expecting its NAV to reach $104 by YE'24. Lastly, $TORO reported Q1 results, showing a debt-free status, an EPS of $1.11, and share repurchases.
$STNG by Fearnleyβs: $100 https://t.co/80lBjOGLfk
Nano cap $TORO drops its Q1: - Now debt free (joining $TNK and $IMPP) - $1.11 EPS (includes vessel gains) - Repurchased 645K shares https://t.co/zl8yoZtdjr
Strong day in Europe for VIE covered shipping: - $FRO +5% - $AGAS +4% - $HAUTO +4% - $CLCO +3% - $MPCC +3% - $WAWI +3% - $OET +3% Learn more: https://t.co/oBE09i5WTI
$ZIM the top shipping gainer pre market at +4%, very close to $17 π₯. Volume of 138K (as of 4:52am PST) highest pre market volume in many months. https://t.co/lhOSgasl2C
Pareto: Biggest tanker spot moves yesterday: - VLCC +$5000 - LR2 +$6000 Everything else had small moves. $FRO $NAT $TNP $TRMD $STNG $TNK $DHT $INSW $ASC $ECO $HAFNI
Strong Friday Funday shipping day in Europe (Denmark is still closed): - Tankers: +2-4%, $DIS.MI flat - Dry Bulk +1% - $CLCO +3% - VLGCs +2-4% - Containers +4% - Car Carriers +3% Oslo catching up post holiday. $AGAS $BWLPG $GCC $WAWI $OET $HAFNI $FRO $TRMD $DIS.MI $GOGL⦠https://t.co/HwMCkTuEKo
$CMRE Q1: - Adj EPS $0.63 - No share repurchases utilized https://t.co/YVXMyFCM7m
Pareto: βThe buyback-catalyst is coming, and after INSW and TNK surges recently $STNG remains the tanker name with the most room for a re-pricing. NAV of $97 moving to $104 by YEβ24, we do not believe a discount will be there for much longer. BUY reiterated, TP to $104 (93).β https://t.co/tdW6P0Q3GT
Shanghai Containerized Freight Index rose 19% w/w to 2,305.79. $SCFI #Shipping #China https://t.co/0MYLo7spac
$STNG - Our buddies at BOA are out with another PT change on STNG! This is around the 10th change in 6 months. - PT raised to $82 (from $72). Title says βRaises Divβ. UHH FALSE! https://t.co/E6a3E0olXT
$TNK - BOA ups the PT to $79 (from $66). https://t.co/LFTZztZ5Hd
$TNK - BOA ups the PT to $70 (from $66). https://t.co/3YhEHrfLUt
Another day of high shipping volumes above averages: - $ZIM: 2.5X - $BWET 2.5X - $ASC: 2.1X - $TNK $TK: 2X - $INSW 2X - $CMRE: 2X - $TNP: 1.9X - $OSG: 1.9X - $STNG 1.5X
80-90% of shipping equities are up again today. Been a wild week π₯π₯. Flurry of new 52 week highs everywhere. Hereβs your top equities β¦ and Oslo is out drinking missing all the fun. https://t.co/TBsvv5LK8J
2 more analyst notes: - $INSW Stifel keeps as BUY, PT bumped to $66 (from $64) - $STNG Omar keeps as Buy with $90 PT https://t.co/eDM6342qWx
Strong open for shipping: - $TNK +8% π - $ZIM +7% π - $TK +6% π Learn more: https://t.co/oBE09i5WTI
Jefferies updates: -$TNK BUY, PT raised to $76 (from $70) -$GNK BUY, PT bumped to $27 (from $26) https://t.co/7Gp8aJ1kut
$STNG slide deck: Nothing of note, claims it has the 2nd highest capital return. https://t.co/EQYisAAuG7 https://t.co/EMj0NbA2JP
$STNG Q1 - 40 cent dividend -Adj EPS $3.97 - Share count up by 1.4M (presumably due to mgmt RSU awards) - Net debt of $810M as of May 8 Mgmt comments: Emanuele A. Lauro, Chairman and Chief Executive Officer, commented, "Reducing our debt and lowering our cash break even rate⦠https://t.co/OzGhIfVMXy
$TNK Q1: - Adj EPS of $3.86 - As guided, now debt free. - Declares a special dividend of $2.00 for a total of $2.25. Happy to see a $2 special dividend. Cash of $370M. https://t.co/zknOqM6Roi
$STNG Q1: - Adj EPS $3.97 - 40 cent Divi - share count up by 1.4M due to RSUs ππΌππΌ (S8 filing was correct) - Net debt of $810M as if May 8) - Nothing about future SH returns - No surprises or changes in here even with their low net debt https://t.co/LzJKgRdBhc
#Shipping companies rally in HK after Baltic Dry Index rose for sixth straight session to hit highest since Mar. COSCO Shipping surged over 7% to hit new high in more than 20 months. OOIL jumped over 6% to hit highest in over eight months. https://t.co/haGgRmRP6L https://t.co/GzwY8xSOP5
Hong Kong-listed shipping groups Orient Overseas Int'l and COSCO Shiping Holdings rise about 7% amid a 5-day streak in the Baltic Dry Index rebound. *COSCO Shipping has hit a new high in the last 20 months. #China #Shipping https://t.co/9CNaKWuQSB https://t.co/9Lfwwy7H3b
$TNK Q1: - Adj EPS of $3.86 - Declares a special dividend of $2.00 for a total of $2.25! - Debt free Good to see a $2 special dividend. https://t.co/7eKV1WLb3N