forventninger for 3.kvartal

Slettet bruker
GOGL 14.11.2017 kl 09:23 2355

Er det noen som har sett forventet resultat for 3.kvartal?
Ønsker realistiske uttalelser.
Redigert 20.01.2021 kl 13:57 Du må logge inn for å svare
Volf
14.11.2017 kl 09:46 2285

GOLDEN OCEAN Expecting DPS reinstatement in Q4 We reiterate our BUY recommendation and NOK83 target price ahead of Q3 results (due on 30 November). Dry bulk spot rates continue to surprise on the upside, prompting us to raise our 2017e net profit by 53%; however, we believe consensus for Q3e looks ambitious, as we are 20% below on EBITDA.
Dry bulk spot rates continue to surprise on the upside. Since we raised our 2017e and 2018e EBITDA in our sector report published on 3 September 2017, with higher bulk rates than we had forecast, earnings in Q4e continued to rise above our expectations. As a result, we have further increased our 2017e EBITDA by 15% to USD116m (from USD101m) and net profit by 53% to USD-13m (from USD-28m). We are now 7% above 2017e consensus EBITDA (consensus is USD107m), 12% above for 2018e (consensus is USD191m), and 6% above for 2019e (consensus is USD253m).
However, we remain 20% below Bloomberg consensus on Q3e EBITDA (we forecast USD23m, consensus is USD28m), reflecting our more muted view on revenues (we forecast USD72m, 14% below consensus of USD84m). We expect EBIT of USD2m, USD6m below consensus of USD8m, and net profit of USD-10m, USD4m below consensus of USD-6m.
Order book suggests 2018–2019e annual fleet growth of 0.5%, and with 2020 a regulation year offering scrapping potential, we believe rates are set to continue to rise YOY over the next few years based on our 2018–2019 annual demand growth forecast of 3.4%. We calculate utilisation of 90% in 2018 and 92% in 2019, which would take average Capesize rates to USD17/day in 2018 and USD20k/day in 2019 based on our forecasts (2017 YTD of USD13k/day).
We reiterate our BUY recommendation and NOK83 target price based on 1.25x our 1-year forward NAV of NOK66/share (unchanged) derived from c18% higher second-hand prices for Capesize and Panamax vessels. We calculate a current NAV of NOK53/share (up from NOK52/share). We calculate that the NAV would increase by NOK11/share (previously NOK12/share) for every 10% increase in asset values. We forecast USD0.51/share in dividend for 2018, resulting in a dividend yield of 6%.
EirHan
14.11.2017 kl 10:11 2261

Ser dårlig ut for denne anbefalingen......da lyt ting skje raskt...