World News
Analysts Maintain "Hold" Rating for Aegean
Analysts at Zacks Investment Research (Zacks) have reiterated a "hold" rating on Aegean Marine Petroleum Network Inc. [NYSE: ANW] (Aegean), American Banking News reports.
In March, Aegean reported an earnings per share (EPS) of $0.22, which met consensus estimates.
Revenues however, came in at $1.47 billion compared to analyst expectations of $1.67 billion.
According to Zacks, Aegean has been concentrating on "expanding its fleet of double hull bunkering tankers and expanding its service centers in strategic locations worldwide."
It is expected that the company will report EPS of $1.11 for the current fiscal year as it aims to maintain a "leading industry position."
Aegean made headlines last year when it purchased several assets formerly belonging to now-bankrupt OW Bunker.
At the time, Aegean President E. Nikolas Tavlarios said that the company had used the occasion to "opportunistically enter new markets."
Earlier this year, Aegean also launched its Marketing & Trading division in a bid to capitalize on the space left by OW Bunker.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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