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Strategies & Market Trends : Undervalued Stocks = Low P/E to Growth Ratios
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To: Mark[ox5] who wrote (267)11/2/1997 10:38:00 AM
From: Robert T. Quasius  Read Replies (1) of 297
 
I have substantial holdings in both TMAR and HMAR. I think that HMAR is slightly more undervalued at this time, although TMAR certainly took a good dip from the HK panic as well.

Both are successful consolidators in the energy services support sector, and are expanding overseas, TMAR in Brazil and the North Sea, and HMAR in the Middle East.

HMAR has started consolidating the tug boat sector in the U.S., which is as highly fragmented as the energy services support sector was several years ago. HMAR's new tug boat looks very promising as well; requires less crew and is more versatile.

HMAR also is constructing double hull vessels for the U.S. chemical and petroleum transportation market. The benefits of this will kick in several years down the road when the new U.S. law will force the retirement of numerous competitor's vessels, but none of HMAR's until around 2015. This sector gives HMAR a little diversity, and combined with the tug boat consolidation initiative may reduce the dependency on the highly cyclical energy services sector.

HMAR is the innovator in it's business, and combined with an excellent business model I think HMAR will do very well both short term as well as long term. Either stock will do well, and I can recommend both.
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