In case you missed it, the National Bank of Greece (NBG) tanked by over 20% today, due to the election of socialist politicians and concern over the possibility that Greece may default on its debt. This news has pulled down many Greek stocks, primarily the shipping companies.
For the contains out there, you may want to consider some of the other Greek stocks. One example, Costamare Inc. (CMRE), which has a fleet of 67 containerships, trades at 13 times trailing earnings and 11 times forward earnings. Earnings for the latest quarter were up an incredible 77% on a 13.2% rise in revenues. To top it off the stock yields a juicy 6.7%.
StealthGas, Inc. (GASS) is a provider of seaborne transportation services to liquefied petroleum gas producers. The stock dropped over 3% today. However, the stock has a price to earnings ratio of 10 and a forward PE of 6. Quarterly revenues were up 5%, however, earnings dropped 62%. It does not pay a dividend.
Safe Bulkers (SB) is a provider of marine dry bulk transportation services. The stock has a 7.5 PE and a forward PE of 10. However, you should be aware that quarterly earnings were down 87%. The yield of 4.4%.
Before you climb aboard any of these shipping companies, analyze the risks. For other interesting stock lists like this, check out the lists of stocks at WallStreetNewsNetwork.com.
Disclosure: Author didn't own any of the above at the time the article was written.