But you may or may not already know that this is old news. I published an article back in 2010 about what Googlers (GOOG) where thinking about Greece (and gold). With all this bad news. investors tend to overreact, and when that happens, opportunities are created for stock snapbacks. Those willing to speculate may want to take a look at Greek stocks.
National Bank of Greece (NBG) has dropped from 1.79 to 1.13 so far this year. Revenues for the latest reported quarter dropped by over 31% and the company is currently generating a loss.
Greek shipping stocks may provide better opportunities. Costamare Inc. (CMRE), which has a fleet of 68 containerships, trades at 12.6 times trailing earnings and 9.9 times forward earnings. Earnings for the latest quarter were up a substantial 32.5% on a 5.2% rise in revenues. The stock sports a fat 6.1% yield. The stock has taken a dip of almost two dollars a share from where it was ten days ago.
StealthGas, Inc. (GASS), based in Athens, is a provider of seaborne transportation services to liquefied petroleum gas producers. The stock has a price to earnings ratio of 24.5 and a forward PE of 7.7. Quarterly revenues increased by 5.3%, however, earnings fell 23.6%. No dividend on this stock.
Safe Bulkers (SB) is a provider of marine dry bulk transportation services. The stock pays a yield of 1.2%, but that may not last as the company is generating negative earnings and revenues went down by over 22% for the latest quarter.
Choppy seas may be ahead for these shipping stocks, so be aware of the risks. If you like interesting stock lists like this, get the lists of stocks at WallStreetNewsNetwork.com.
Disclosure: Author didn't own any of the above at the time the article was written.
By Stockerblog.com
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