Excel Maritime Carriers Ltd.(fka EXMCQ)

[Ecomike]

Well earnings are out. Stock was up 5.82% today, and up another .20 cents after hours already and climbing! Earnings were .79 cents a share based on diluted shares, now at 78,863,299 shares OS, so EXM stock should make a solid recovery from here. That puts earnings for the last three quarters at $4.03/share (or $3.62 a share adjusted for recent share issue dilution). So the current price is not far from 1 times earnings (ignoring the 4th quarter disaster last year). Even if the BDI goes no higher, this stock looks like a very under priced survivor to me.

Won't be surprised to see it gap up 10 to 15% at the open tomorrow.

If I am reading it right, stock holders equity is up 40% based on cash from the resent stock sales, at $1,400,973,000.

1400973000/78863299= $17.76/share book value for EXM!!!!! Even after the recent stock sale dilution.