Bermuda's 2020 Bulkers Q1 net profit reached $154.1 mln

Overview

• Bermuda dry bulk shipper's Q1 EBITDA reached $157.3 mln

• Q1 net profit reached $154.1 mln

• Company delivered five vessels to new owners during Q1

Outlook

• Company did not provide specific guidance or outlook for the current or future periods in its press release

Result Drivers

• VESSEL SALES - Five vessels delivered to new owners in Q1, which may have contributed to results

• CHARTER EARNINGS - Achieved average time charter equivalent earnings of about $26,700 per day, gross

Company press release: ID:nMFNXdzQr

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the marine freight & logistics peer group is "buy."

• Wall Street's median 12-month price target for 2020 Bulkers Ltd is NOK142.00, about 1,958% above its May 12 closing price of NOK6.90

• The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 0 three months ago

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