I have just bought into Hvide Marine (HMAR). The company is a marine transportation company that is heavily involved in oil service industry support.
According to Zacks, the consensus long term growth rate is over 45% annually, yet the stock at the Friday (8/15) close of 25-5/8 is selling at a FY97 P/E of 15, and a FY98 P/E of only 10.
Some intersting aspects of Hvide Marine. First, the company is classified as a marine transportation company, yet because a significant part of it's business is oil drilling services related, it should carry a comparable P/E. The oil services sector has been booming lately due to escalating demand for oil. Whichever sector is appropriate, the stock is severely undervalued relative to its growth prospects.
Second, Hvide Marine has just been issued a patent for a new concept tug boat, that is more versatile, and also requires a smaller crew. This should enhance efficiency, and potentially open up a brand new business. Once the new concept tug boat is accepted, Hvide could license it, etc.
Has anybody else been following this stock??? |
