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researcher59

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researcher59

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Re: None

Tuesday, 03/14/2006 10:42:11 AM

Tuesday, March 14, 2006 10:42:11 AM

Post# of 174021
EXM posted a solid Q4 with EPS of $0.56 excluding gains ... for the year EPS was $2.49 excluding gains. The stock is now trading at around $11, down from an incredible high of $65 set 18 months ago.

EXM is a dry bulk shipping company and concerns remain that spot market shipping rates could continue to fall as more capacity comes online this year ..... however now trading at a 25% discount to tangible book value of $14.70 and with a trailing PE of only a bit over 4, maybe the bottom has been reached ? I'm still just watching from the sidelines but may take a position at some point .... all the 'bad' news seems to be in the current price, and so far the news hasn't been very bad at all ....
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