Aegean Marine Petroleum Network Inc (fka ANWWQ)

[RonnieD]

ANW has been getting lightly downgraded in regard to its price targets by analysts who rate the stock a buy. With the overall market very weak of late, for example today it was target-reduced to 35 from 40 and 34 from 39.
Getting this at 15 today was simply ridiculous.

Aegean Marine Petroleum Network Inc.'s (ANW) second-quarter earnings fell 26% on charges this year and year-ago gains as the Greek shipping-fuel supplier's volume surged on a recent acquisition.

The company, which operates in more than a dozen markets, has seen its revenue grow on higher volumes after a drop during the worst of the global recession. Aegean on April 1 completed its largest acquisition, of Verbeke Bunkering NV, a marine-fuel supplier in the Antwerp-Rotterdam-Amsterdam region, the world's second-largest bunkering port.

Aegean posted a profit of $12 million, or 25 cents per share, down from $16.3 million, or 38 cents per share, a year earlier. Excluding divestiture and other impacts, earnings rose to 30 cents per share from 28 cents per share as revenue more than doubled to $1.34 billion on higher prices. Volume soared 89%.

Analysts surveyed by Thomson Reuters expected a profit of 36 cents per share on revenue of $1.17 billion.

Operating margin slumped to 1.4% from 3.2% as the cost surge for product costs outpaced the revenue gains.

Shares closed at $19.05 and were inactive after-hours. The stock has slumped 31% so far this year.

-By John Kell and Kevin Kingsbury, Dow Jones Newswires; 212-416-2480; [e-mail]
ofits in guidance for upcoming quarters.