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Thursday, February 05, 2009

DRYS: DryShips Inc. (Nasdaq)

DryShips Inc. (more DRYS charts) is a global shipping transportation company specializing in the transportation of dry bulk cargo. Their executive offices are located in Amaroussion, Greece. They are listed on the Nasdaq Exchange (since February 2005) under the symbol "DRYS." Their website says their fleet carrying capacity totals over 4 million dead weight tons.

Well known market timer, Don Wolanchuk, likes Dry Ships (DRYS on the NASDAQ exchange) as a high octane (high risk) stock to take advantage of a bull market rally he expects.

Don's recent comments about DRYS:
  • Feb. 2: @ ~$5 thats one very boolish looking chart....3 gap play on the decline 2 eh...........thanks
  • Feb 4, 2009 @~ $7: lookin at the chart im thinkin 15 to 20 will be here this month.....






Yahoo! Valuation Numbers for DRYS:
DryShips Inc. (NMS: DRYS)

$6.49 Down 0.67 (9.36%) 1:33pm EThelp
Last Trade:6.57
Trade Time:1:19PM ET
Change:Down 0.59 (8.24%)
Prev Close:7.16
Open:7.38
Bid:6.56 x 5800
Ask:6.57 x 4700
1y Target Est:22.57

Day's Range:

6.15
- 7.38
52wk Range:3.04 - 116.43
Volume:21,314,552
Avg Vol (3m):19,373,800
Market Cap:286.11M
P/E (ttm):0.31
EPS (ttm):21.23
Div & Yield:0.80 (13.10%)


Beware, analysts have much lower estimates for next year. The current PE of 0.31 will rise to a PE of 5.3 if the most bearish earnings estimate for 2009 at $1.23 holds true.

Analyst Estimates

Earnings Est Current Year
Dec-08
Next Year
Dec-09
Avg. Estimate 11.453.52
No. of Analysts 59
Low Estimate 10.901.23
High Estimate 11.956.54
Year Ago EPS 9.5411.45

Note the high debt level, again from Yahoo! finance. Total debt of $2.9B greatly exceeds market cap of $286M. The bears may be betting that idle, empty ships during a global recession will make it tough for DRYS to make loan payments.

Balance Sheet
Total Cash (mrq):328.98M
Total Cash Per Share (mrq):7.554
Total Debt (mrq):2.90B
Total Debt/Equity (mrq):1.356
Current Ratio (mrq):0.716
Book Value Per Share (mrq):49.091


Disclosures: None. I currently have no positions in DRYS in my personal, "Kirk Lindstrom's Investment Letter" or "The Retirement Advisor" portfolios.

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