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My Stock Value Strategy Starts Now (1 Viewer)
- Thread starter David Dodds
- Start date
Apu
Footballguy
I don't think it really means anything. Could be a few minutes. Could be a few hours.
iowa clubbers
Footballguy
Is a bit vague as to just when after the markets close. Typically it is right after close. This is a Greek company though (not sure what that means?) maybe they don't know /
care about the "protocal"
Paragon Shipping Inc. (Nasdaq: PRGN), a global shipping transportation company specializing in dry bulk cargoes, today announced that its financial results for the second quarter ended June 30, 2009 are scheduled to be released after the close of U.S. financial markets on Tuesday, August 11, 2009.
The Company's management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. Eastern Time on Wednesday, August 12, 2009.
The Z Machine
Footballguy
I'm going to eat lunch and when I come back the after hours trading will have moved PRGN above 4.90.
MARK MY WORDS
MARK MY WORDS
Otis
Footballguy
lol
parasaurolophus
Footballguy
can i get a link for this please? otherwise you are just a paid pumper.oh wait sorry thought I was on yahoo.
NYG Endzone
Footballguy
News for 'PRGN' - (*DJ Paragon Shipping (CL A) 2Q EPS 48c Vs EPS 91c >PRGN)
OMG PRGN
JUST KILLED IT!!!!!!!!!!!!!!!!!
Commenting on the results, Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, stated, "We are pleased to announce another profitable quarter for Paragon with our strongest quarterly operating performance to date.
http://finance.yahoo.com/news/Paragon-Ship...ml?x=0&.v=1
JUST KILLED IT!!!!!!!!!!!!!!!!!
Commenting on the results, Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, stated, "We are pleased to announce another profitable quarter for Paragon with our strongest quarterly operating performance to date.
http://finance.yahoo.com/news/Paragon-Ship...ml?x=0&.v=1
Last edited by a moderator:
Otis
Footballguy
ATHENS, Greece, Aug. 11, 2009 (GLOBE NEWSWIRE) -- Paragon Shipping Inc. (Nasdaq
RGN - News), a global shipping transportation company specializing in drybulk cargoes, announced today its results for the second quarter and six months ended June 30, 2009.
Commenting on the results, Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, stated, "We are pleased to announce another profitable quarter for Paragon with our strongest quarterly operating performance to date. This has been achieved through our significant charter coverage and disciplined approach to cost controls. On an adjusted basis, Paragon's financial performance during the second quarter of 2009 beat our 2008 second quarter results. Our fleet average timecharter income was higher, our daily expenses were lower and, as a consequence, our EBITDA was higher. As we previously announced, during the quarter we took advantage of the strengthening charter market by fixing the 'Calm Seas' and 'Coral Seas' on new two-year time charters. These new charter arrangements will increase our contractually fixed revenue days in 2010 and 2011 to 84% and 66%, respectively, providing us with significant stability in a potentially uncertain time in our markets. Gross contracted fleet revenue from our existing charters is approximately $323 million."
Mr. Bodouroglou concluded, "In addition, in August, we contracted to sell one of our oldest vessels, the 1995 built handymax bulkcarrier 'Blue Seas,' which is scheduled to be delivered to the buyers between September and December 2009. The vessel will be redelivered from the current charter in the fourth quarter of this year and therefore, we have taken the decision to sell the vessel at what we believe to be an opportune time of relative strength in asset values. Finally, I am pleased to announce that we will again pay a quarterly dividend to shareholders of $0.05 per share."
Second Quarter 2009 Financial Results:
Time charter revenue for the second quarter of 2009 was $42.3 million, compared to $40.6 million for the second quarter of 2008. The Company reported net income of $15.8 million, or $0.48 per basic and diluted share, for the second quarter of 2009, calculated on 32,816,789 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below. For the second quarter of 2008, the Company reported net income of $24.6 million, or $0.91 per basic and diluted share, calculated on 26,927,648 weighted average number of basic shares and on 27,155,816 weighted average number of diluted shares.
Excluding all non-cash items described below, adjusted net income for the second quarter of 2009 was $16.6 million, or $0.50 and $0.51 per basic and diluted share, respectively. This compares to adjusted net income of $13.4 million, or $0.49 per basic and diluted share, for the second quarter of 2008. Please refer to the table at the back of this press release for reconciliations of GAAP net income to non-GAAP adjusted net income and GAAP earnings per share to non-GAAP adjusted earnings per share.
EBITDA was $27.2 million for the second quarter of 2009, compared to $35.6 million for the second quarter of 2008. This was calculated by adding to net income of $15.8 million for the second quarter of 2009, net interest expense and depreciation that in the aggregate amounted to $11.4 million for the second quarter of 2009. Adjusted EBITDA, excluding all non-cash items described below, was $27.3 million for the second quarter of 2009, compared to $23.7 million for the second quarter of 2008. Please see the table at the back of this release for a reconciliation of EBITDA and Adjusted EBITDA to net income.
The Company operated 12 vessels during the second quarter of 2009, earning an average time charter equivalent rate, or TCE rate, of $36,833 per day, compared to an average of 11 vessels during the second quarter of 2008, earning an average time charter equivalent rate of $39,027 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.
Total adjusted operating expenses for the second quarter of 2009 were $6.6 million, or approximately $6,005 per day, including vessel operating expenses, management fees, general and administrative expenses and dry-docking costs, but excluding $0.2 million of share-based compensation for the period. For the second quarter of 2008, total adjusted operating expenses were $7.8 million, or approximately $7,764 per day, including vessel operating expenses, management fees and general and administrative expenses and drydocking costs, but excluding $0.1 million of share-based compensation.
Second Quarter 2009 Non-cash Items
The Company's results for the three months ended June 30, 2009 included the following non-cash items:
* Non-cash revenue of $4.6 million and depreciation expense of $0.7
million associated with below market time charters attached to
vessels acquired, which increases net revenue (amortized over the
remaining period of the time charter) and increases depreciation
expense (amortized over the remaining useful life of the vessel).
These non-cash items contributed an aggregate of $3.9 million to
net income, or $0.12 to basic and diluted earnings per share, for
the three months ended June 30, 2009.
* Impairment loss on the MV Blue Seas of $6.0 million, or $0.18 per
basic and diluted share.
* An unrealized gain from interest rate swaps of $1.4 million, or
$0.04 per basic and diluted share, respectively, for the three
months ended June 30, 2009.
* Non-cash expenses of $0.2 million, or $0.01 per basic and diluted
share, relating to the amortization for the three months ended June
30, 2009, of the compensation cost recognized for restricted common
shares issued to executive officers, directors and employees.
In the aggregate, these non-cash items reduced net income by $0.8 million, or $0.02 to earnings per basic and diluted share, for the three months ended June 30, 2009.
Dividend Declared
The Company's Board of Directors declared a quarterly dividend of $0.05 per share with respect to the second quarter of 2009, payable on September 7, 2009 to shareholders of record as of the close of business on August 25, 2009.
Time Charter Coverage Update
Pursuant to its time chartering strategy, Paragon Shipping Inc. mainly employs vessels under fixed rate charters for periods ranging from one to five years. The Company has secured under such contracts 98%, 84% and 66% of its fleet capacity in the remainder of 2009, in 2010 and in 2011, respectively.
Cash Flows
For the six months ended June 30, 2009, the Company generated net cash from operating activities of $43.5 million, compared to $39.4 million for the six months ended June 30, 2008. For the six months ended June 30, 2009, net cash used in investing activities was $40.0 million and net cash from financing activities was $33.3 million. For the six months ended June 30, 2008, net cash used in investing activities was $5.4 million and cash from financing activities was $16.5 million.
Six months ended June 30, 2009 Financial Results:
Time charter revenue for the six months ended June 30, 2009 was $83.9 million, compared to $81.1 million for the six months ended June 30, 2008. The Company reported net income of $35.0 million, or $1.17 per basic and diluted share for the six months ended June 30, 2009, calculated on 29,962,927 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below. For the six months ended June 30, 2008, the Company reported net income of $40.4 million, or $1.51 and $1.50 per basic and diluted share, respectively, calculated on 26,601,327 weighted average number of basic shares and on 26,961,407 weighted average number of diluted shares.
Excluding all non-cash items described below, adjusted net income for the six months ended June 30, 2009 was $31.3 million, or $1.04 per basic and diluted share. This compares to adjusted net income of $27.6 million, or $1.03 and $1.02 per basic and diluted share, respectively, for the six months ended June 30, 2008. Please refer to the table at the back of this press release for reconciliations of GAAP net income to non-GAAP adjusted net income and GAAP earnings per share to non-GAAP adjusted earnings per share.
EBITDA was $59.0 million for the six months ended June 30, 2009, compared to $62.8 million for the six months ended June 30, 2008. This was calculated by adding to net income of $35.0 million for the six months ended June 30, 2009, net interest expense and depreciation that in the aggregate amounted to $24.0 million for the six months ended June 30, 2009. Adjusted EBITDA, excluding all non-cash items described below, was $54.0 million for the six months ended June 30, 2009, compared to $48.6 million for the second quarter of 2008. Please see the table at the back of this release for a reconciliation of EBITDA and Adjusted EBITDA to net income.
The Company operated 12 vessels during the six months ended June 30, 2009, earning an average time charter equivalent rate, or TCE rate, of $37,004 per day, compared to an average of 11 vessels during the six months ended June 30, 2008, earning an average time charter equivalent rate of $39,063 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.
Total adjusted operating expenses for the six months ended June 30, 2009 were $13.6 million, or approximately $6,284 per day, including vessel operating expenses, management fees, general and administrative expenses and dry-docking costs, but excluding $0.3 million of share-based compensation for the period. For the six months ended June 30, 2008, total adjusted operating expenses were $13.9 million, or approximately $6,938 per day, including vessel operating expenses, management fees and general and administrative expenses and drydocking costs, but excluding $0.3 million of share-based compensation.
Six months ended June 30, 2009 Non-cash Items
The Company's results for the six months ended June 30, 2009 included the following non-cash items:
* Non-cash revenue of $9.2 million and depreciation expense of $1.4
million associated with below market time charters attached to
vessels acquired, which increases net revenue (amortized over the
remaining period of the time charter) and increases depreciation
expense (amortized over the remaining useful life of the vessel).
These non-cash items contributed an aggregate of $7.8 million to
net income, or $0.26 to basic and diluted earnings per share, for
the six months ended June 30, 2009.
* Impairment loss on the MV Blue Seas of $6.0 million, or $0.20 per
basic and diluted share.
* An unrealized gain from interest rate swaps of $2.2 million, or
$0.07 per basic and diluted share, respectively, for the six months
ended June 30, 2009.
* Non-cash expenses of $0.3 million, or $0.01 per basic and diluted
share, relating to the amortization for the six months ended June
30, 2009, of the compensation cost recognized for restricted common
shares issued to executive officers, directors and employees.
In the aggregate, these non-cash items contributed $3.7 million to net income, or $0.12 to earnings per basic and diluted share, for the six months ended June 30, 2009.
Conference Call and Webcast:
The Company's management will host a conference call to discuss its second quarter and six months ended June 30, 2009 results on August 12, 2009 at 9:00 a.m. Eastern Time.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: + 1 866 288 9315 (from the US), + 44 (0) 800 3769 250 (from the UK), or + 30 211 180 2000 (all other callers). The access code for the call is "909".
A telephonic replay of the conference call will be available for 90 days by dialing + 1 866 288 9317 (from the US), + 44 (0) 800 901 2906 (from the UK), or + 30 210 94 60 929 (all other callers). The access code for the replay is "909#".
Slides and audio webcast:
There will also be a live webcast of the conference call and accompanying slide presentation on the Paragon Shipping Inc. website (www.paragonship.com). Please allow 15 minutes prior to the call to visit the site and download and install any necessary audio software. The webcast will be archived on this site for one year.
About Paragon Shipping Inc.
Paragon Shipping Inc. is an Athens, Greece-based international shipping company specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve vessels with a total carrying capacity of 765,137 dwt.
RGN - News), a global shipping transportation company specializing in drybulk cargoes, announced today its results for the second quarter and six months ended June 30, 2009.Commenting on the results, Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, stated, "We are pleased to announce another profitable quarter for Paragon with our strongest quarterly operating performance to date. This has been achieved through our significant charter coverage and disciplined approach to cost controls. On an adjusted basis, Paragon's financial performance during the second quarter of 2009 beat our 2008 second quarter results. Our fleet average timecharter income was higher, our daily expenses were lower and, as a consequence, our EBITDA was higher. As we previously announced, during the quarter we took advantage of the strengthening charter market by fixing the 'Calm Seas' and 'Coral Seas' on new two-year time charters. These new charter arrangements will increase our contractually fixed revenue days in 2010 and 2011 to 84% and 66%, respectively, providing us with significant stability in a potentially uncertain time in our markets. Gross contracted fleet revenue from our existing charters is approximately $323 million."
Mr. Bodouroglou concluded, "In addition, in August, we contracted to sell one of our oldest vessels, the 1995 built handymax bulkcarrier 'Blue Seas,' which is scheduled to be delivered to the buyers between September and December 2009. The vessel will be redelivered from the current charter in the fourth quarter of this year and therefore, we have taken the decision to sell the vessel at what we believe to be an opportune time of relative strength in asset values. Finally, I am pleased to announce that we will again pay a quarterly dividend to shareholders of $0.05 per share."
Second Quarter 2009 Financial Results:
Time charter revenue for the second quarter of 2009 was $42.3 million, compared to $40.6 million for the second quarter of 2008. The Company reported net income of $15.8 million, or $0.48 per basic and diluted share, for the second quarter of 2009, calculated on 32,816,789 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below. For the second quarter of 2008, the Company reported net income of $24.6 million, or $0.91 per basic and diluted share, calculated on 26,927,648 weighted average number of basic shares and on 27,155,816 weighted average number of diluted shares.
Excluding all non-cash items described below, adjusted net income for the second quarter of 2009 was $16.6 million, or $0.50 and $0.51 per basic and diluted share, respectively. This compares to adjusted net income of $13.4 million, or $0.49 per basic and diluted share, for the second quarter of 2008. Please refer to the table at the back of this press release for reconciliations of GAAP net income to non-GAAP adjusted net income and GAAP earnings per share to non-GAAP adjusted earnings per share.
EBITDA was $27.2 million for the second quarter of 2009, compared to $35.6 million for the second quarter of 2008. This was calculated by adding to net income of $15.8 million for the second quarter of 2009, net interest expense and depreciation that in the aggregate amounted to $11.4 million for the second quarter of 2009. Adjusted EBITDA, excluding all non-cash items described below, was $27.3 million for the second quarter of 2009, compared to $23.7 million for the second quarter of 2008. Please see the table at the back of this release for a reconciliation of EBITDA and Adjusted EBITDA to net income.
The Company operated 12 vessels during the second quarter of 2009, earning an average time charter equivalent rate, or TCE rate, of $36,833 per day, compared to an average of 11 vessels during the second quarter of 2008, earning an average time charter equivalent rate of $39,027 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.
Total adjusted operating expenses for the second quarter of 2009 were $6.6 million, or approximately $6,005 per day, including vessel operating expenses, management fees, general and administrative expenses and dry-docking costs, but excluding $0.2 million of share-based compensation for the period. For the second quarter of 2008, total adjusted operating expenses were $7.8 million, or approximately $7,764 per day, including vessel operating expenses, management fees and general and administrative expenses and drydocking costs, but excluding $0.1 million of share-based compensation.
Second Quarter 2009 Non-cash Items
The Company's results for the three months ended June 30, 2009 included the following non-cash items:
* Non-cash revenue of $4.6 million and depreciation expense of $0.7
million associated with below market time charters attached to
vessels acquired, which increases net revenue (amortized over the
remaining period of the time charter) and increases depreciation
expense (amortized over the remaining useful life of the vessel).
These non-cash items contributed an aggregate of $3.9 million to
net income, or $0.12 to basic and diluted earnings per share, for
the three months ended June 30, 2009.
* Impairment loss on the MV Blue Seas of $6.0 million, or $0.18 per
basic and diluted share.
* An unrealized gain from interest rate swaps of $1.4 million, or
$0.04 per basic and diluted share, respectively, for the three
months ended June 30, 2009.
* Non-cash expenses of $0.2 million, or $0.01 per basic and diluted
share, relating to the amortization for the three months ended June
30, 2009, of the compensation cost recognized for restricted common
shares issued to executive officers, directors and employees.
In the aggregate, these non-cash items reduced net income by $0.8 million, or $0.02 to earnings per basic and diluted share, for the three months ended June 30, 2009.
Dividend Declared
The Company's Board of Directors declared a quarterly dividend of $0.05 per share with respect to the second quarter of 2009, payable on September 7, 2009 to shareholders of record as of the close of business on August 25, 2009.
Time Charter Coverage Update
Pursuant to its time chartering strategy, Paragon Shipping Inc. mainly employs vessels under fixed rate charters for periods ranging from one to five years. The Company has secured under such contracts 98%, 84% and 66% of its fleet capacity in the remainder of 2009, in 2010 and in 2011, respectively.
Cash Flows
For the six months ended June 30, 2009, the Company generated net cash from operating activities of $43.5 million, compared to $39.4 million for the six months ended June 30, 2008. For the six months ended June 30, 2009, net cash used in investing activities was $40.0 million and net cash from financing activities was $33.3 million. For the six months ended June 30, 2008, net cash used in investing activities was $5.4 million and cash from financing activities was $16.5 million.
Six months ended June 30, 2009 Financial Results:
Time charter revenue for the six months ended June 30, 2009 was $83.9 million, compared to $81.1 million for the six months ended June 30, 2008. The Company reported net income of $35.0 million, or $1.17 per basic and diluted share for the six months ended June 30, 2009, calculated on 29,962,927 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below. For the six months ended June 30, 2008, the Company reported net income of $40.4 million, or $1.51 and $1.50 per basic and diluted share, respectively, calculated on 26,601,327 weighted average number of basic shares and on 26,961,407 weighted average number of diluted shares.
Excluding all non-cash items described below, adjusted net income for the six months ended June 30, 2009 was $31.3 million, or $1.04 per basic and diluted share. This compares to adjusted net income of $27.6 million, or $1.03 and $1.02 per basic and diluted share, respectively, for the six months ended June 30, 2008. Please refer to the table at the back of this press release for reconciliations of GAAP net income to non-GAAP adjusted net income and GAAP earnings per share to non-GAAP adjusted earnings per share.
EBITDA was $59.0 million for the six months ended June 30, 2009, compared to $62.8 million for the six months ended June 30, 2008. This was calculated by adding to net income of $35.0 million for the six months ended June 30, 2009, net interest expense and depreciation that in the aggregate amounted to $24.0 million for the six months ended June 30, 2009. Adjusted EBITDA, excluding all non-cash items described below, was $54.0 million for the six months ended June 30, 2009, compared to $48.6 million for the second quarter of 2008. Please see the table at the back of this release for a reconciliation of EBITDA and Adjusted EBITDA to net income.
The Company operated 12 vessels during the six months ended June 30, 2009, earning an average time charter equivalent rate, or TCE rate, of $37,004 per day, compared to an average of 11 vessels during the six months ended June 30, 2008, earning an average time charter equivalent rate of $39,063 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.
Total adjusted operating expenses for the six months ended June 30, 2009 were $13.6 million, or approximately $6,284 per day, including vessel operating expenses, management fees, general and administrative expenses and dry-docking costs, but excluding $0.3 million of share-based compensation for the period. For the six months ended June 30, 2008, total adjusted operating expenses were $13.9 million, or approximately $6,938 per day, including vessel operating expenses, management fees and general and administrative expenses and drydocking costs, but excluding $0.3 million of share-based compensation.
Six months ended June 30, 2009 Non-cash Items
The Company's results for the six months ended June 30, 2009 included the following non-cash items:
* Non-cash revenue of $9.2 million and depreciation expense of $1.4
million associated with below market time charters attached to
vessels acquired, which increases net revenue (amortized over the
remaining period of the time charter) and increases depreciation
expense (amortized over the remaining useful life of the vessel).
These non-cash items contributed an aggregate of $7.8 million to
net income, or $0.26 to basic and diluted earnings per share, for
the six months ended June 30, 2009.
* Impairment loss on the MV Blue Seas of $6.0 million, or $0.20 per
basic and diluted share.
* An unrealized gain from interest rate swaps of $2.2 million, or
$0.07 per basic and diluted share, respectively, for the six months
ended June 30, 2009.
* Non-cash expenses of $0.3 million, or $0.01 per basic and diluted
share, relating to the amortization for the six months ended June
30, 2009, of the compensation cost recognized for restricted common
shares issued to executive officers, directors and employees.
In the aggregate, these non-cash items contributed $3.7 million to net income, or $0.12 to earnings per basic and diluted share, for the six months ended June 30, 2009.
Conference Call and Webcast:
The Company's management will host a conference call to discuss its second quarter and six months ended June 30, 2009 results on August 12, 2009 at 9:00 a.m. Eastern Time.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: + 1 866 288 9315 (from the US), + 44 (0) 800 3769 250 (from the UK), or + 30 211 180 2000 (all other callers). The access code for the call is "909".
A telephonic replay of the conference call will be available for 90 days by dialing + 1 866 288 9317 (from the US), + 44 (0) 800 901 2906 (from the UK), or + 30 210 94 60 929 (all other callers). The access code for the replay is "909#".
Slides and audio webcast:
There will also be a live webcast of the conference call and accompanying slide presentation on the Paragon Shipping Inc. website (www.paragonship.com). Please allow 15 minutes prior to the call to visit the site and download and install any necessary audio software. The webcast will be archived on this site for one year.
About Paragon Shipping Inc.
Paragon Shipping Inc. is an Athens, Greece-based international shipping company specializing in the transportation of drybulk cargoes. The Company's current fleet consists of twelve vessels with a total carrying capacity of 765,137 dwt.
The Ref
Footballguy
The Company's Board of Directors declared a quarterly dividend of $0.05 per share with respect to the second quarter of 2009, payable on September 7, 2009 to shareholders of record as of the close of business on August 25, 2009.Where is the news???? My buddy said they beat and announced a dividend.
NYG Endzone
Footballguy
Anyone buying after market? Can probably be had in the $4.80's
Boulder Toads
Footballguy
Someone please start looking for the dilution announcement.
NYG Endzone
Footballguy
Scottrade had 4 analyst average of .41 cents (with a high of .45). So either way, good news
If they dilute again I will personally hunt down the directors of this company on my vacation to Greece in a few weeks.Someone please start looking for the dilution announcement.
Great earnings report from PRGN. I don't think we could have asked for anything better. I was thinking of selling half of my shares at 5.25 just to diversify a bit but now I might just hold until the end of the year. This could easily hit $10 by year end and I don't want to miss out on it.
The Z Machine
Footballguy
WHAT DID I TELL YOU PEOPLE!!!!!!! MIDASSSSSSSS
Who was the schmo that talked me out of going all-in this morning???? (It's cool, at least I went half-in and got some more shares after the opening bell drop).
Who was the schmo that talked me out of going all-in this morning???? (It's cool, at least I went half-in and got some more shares after the opening bell drop).
bigfishboy
Footballguy
I wouldn't say they crushed earnings, but they did beat the estimate soundly.
I think the better news for us is the rest of the report. The numbers were all up from 2nd quarter last year. None of the other shippers that have reported (that I saw) could say that. Couple that with the falling BDI and the high locked-in charter %, and you get a picture of a company run by quality management that is doing it right.
I hope enough other people see it this way for the price to get over $5 and hold.
Can we have an up NASDAQ and BDI day?
I think the better news for us is the rest of the report. The numbers were all up from 2nd quarter last year. None of the other shippers that have reported (that I saw) could say that. Couple that with the falling BDI and the high locked-in charter %, and you get a picture of a company run by quality management that is doing it right.
I hope enough other people see it this way for the price to get over $5 and hold.
Can we have an up NASDAQ and BDI day?
NYG Endzone
Footballguy
Nobody's buying more
PRGN BUY 500 LIMIT $4.80 AFTER-HOURS
PRGN BUY 500 LIMIT $4.80 AFTER-HOURS
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bigfishboy
Footballguy
PRGN: Beating the Otis curse since 8/11/2009
parasaurolophus
Footballguy
dont get too greedy fellas.
i understand the report was great and all, but why isnt it above 5?
My observations lately are that the pre market and after hours reactions usually signify the peaks.
I observed it just this morning with AVNR. Pretty much consistently dipped all day from pre market and ended up way below where it peaked. I understand a phase 3 report is way different here, but the principal is not too different.
Throw in the fact that the other shippers have really been blah after positive reactions.
i understand the report was great and all, but why isnt it above 5?
My observations lately are that the pre market and after hours reactions usually signify the peaks.
I observed it just this morning with AVNR. Pretty much consistently dipped all day from pre market and ended up way below where it peaked. I understand a phase 3 report is way different here, but the principal is not too different.
Throw in the fact that the other shippers have really been blah after positive reactions.
Reaper
Footballguy
Maybe the upcoming dividend will help attract some buyers along with a good market tomorrow.But, WTF do I know.
I left 10k on the CENX table.
I don't know, but the P/E ratios is still really low. With the charters locked in this is basically a cash cow. Would like to know what they did wit the cash they raised.
None_More_Black
Footballguy
Balance sheet looks good with 105 mil in cash as of 6/30.(could have more now, they reported 42 million shares at the end of June. Bit of a mystery how many shares they have outstanding as of today)
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parasaurolophus
Footballguy
what do I know either, I sold the very same stock I recommend others to buy right before it popped. I just was posting obsevrations. Seems like you guys probably could have even flipped here in after hours already. i see last trade at 4.75, what are people's takes on this?Maybe the upcoming dividend will help attract some buyers along with a good market tomorrow.But, WTF do I know.I left 10k on the CENX table.
KGB
Footballguy
Their biggest earnings quarter ever. FBGs buying up shares while they dilute. FBG factor in full effect
Going against the short term hits of this thread Im going long term with PRGN.
I cant find any other stock/fund that:
1.) Pays a nice dividend (5%)
2.) Has a P/E ratio this low (under 4)
3.) Has such a hard floor for share price.
Ive already made a ton on PRGN and lost some of it back with other plays. This seems like the safest way to make some real money. I still will leave 5-10k in my account for stupid plays. But Im sticking with PRGN.
I cant find any other stock/fund that:
1.) Pays a nice dividend (5%)
2.) Has a P/E ratio this low (under 4)
3.) Has such a hard floor for share price.
Ive already made a ton on PRGN and lost some of it back with other plays. This seems like the safest way to make some real money. I still will leave 5-10k in my account for stupid plays. But Im sticking with PRGN.
SkyRattlers
Anti-aliai
Sounds great, but why not sell it all off today and then buy back in in two weeks after the post earnings glow wears off and it loses 20% of it's value?
Last quarter the price stayed around $5.50 post-earnings. It only fell after they announced another 10 million dilution (which they admitted was a mistake).
Cromedog
Footballguy
I agree that it is a good long term play too...especially because of the dividend. I will likely exit 1/2 my postition and let the other half ride.
Here's to similar numbers for SBLK and FREE!Boulder Toads
Footballguy
Yeah, still on the fence as to how long I'm going to stay with PRGN ... real content to hold here for a while, but may be tempted to roll some of the profit over to add to my FREE position. May just maintain my hold on PRGN and roll my SBLK cash over to FREE instead ... hmmmm.Should be an interesting market day today ...I agree that it is a good long term play too...especially because of the dividend. I will likely exit 1/2 my postition and let the other half ride.Here's to similar numbers for SBLK and FREE!
NYG Endzone
Footballguy
Nobody's concerned that they've been stuck in the 4.70's during after & pre markets?
