Analysts: Aegean is a "Strong Buy"

by Ship & Bunker News Team
Tuesday April 14, 2015

Aegean Marine Petroleum Network (Aegean) [NYSE:ANW] Sunday was said to have received an average analyst rating of "strong buy" from four equities research analysts, WKRB reports.

The analysts suggested a 12-month consensus target price for the shares of $17.40, predicting current quarter earnings per share will hit $0.24.

Earnings per share met analyst expectations of $0.22 last quarter, despite lower than expected revenue.

On March 10, Zacks Investment Research (Zacks) reduced its rating of Aegean from "outperform" to "neutral," setting a target price of $16.20, and ranking Aegean's shares at 171 out of 265 companies considered to be in the same industry.

Aegean's shares have experienced some volatility in the last year, with a 52-week low of $6.99 and a high over the same period of $15.37.

Aegean's share price as of close of trading on Monday was $14.39, giving the company a market capitalisation of $697.52 million.

In March, Aegean posted strong 2014 earnings results and, at the same time, Aegean Chairman Peter Georgiopoulos said pricing in the bunker market has become "more rational" since OW Bunker's collapse.

Ship & Bunker News Team
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