Today's stock selection:
OCNF
http://www.zacks.com/rank/zcommentary/?id=7725
Oceanfreight is benefiting from global commodity demand as its vessels reach nearly 100% utilization rates. The company has surprised on earnings three out of the last four quarters on average of 117.48%. Oceanfreight has a forward P/E of 9.66.
Full Analysis
Oceanfreight, Inc. ( OCNF ) is a global marine transportation company based in Greece that ships drybulk and crude cargoes. The company acquired its first vessel in June 2007 and now owns a fleet of 11 vessels, including 1 Capesize bulk carrier, 8 Panamax bulk carriers, 1 Aframax tanker and 1 Suezmax tanker with a total carrying capacity of approximately 978,889 million deadweight tons.
The company's states that its strategy is to deliver consistent shareholder returns. To that effect, OCNF recently announced, for the second quarter in a row, a quarterly dividend of 77 cents per share. The current dividend yield is 12.60%.
http://astuk-virtuallystocks.blogspot.com/
$25.59 (05/29/08)
