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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (65)	11/29/1997 8:04:00 PM
From: Robert T. Quasius	Read Replies (1) \| Respond to of 547

Don't overlook the non-oilfield services segment of Hvide: tugboat consolidation, chemical and petroleum transportation, etc. TMAR is pretty much completely in the oilfield services support. As for the oilfield services, HMAR and TMAR both carry a lower P/E than many of the drilling service companies, yet should be comparable. I think that the reason they are overlooked is that they are classified as marine transportation rather than oilfield services. Also, it is hard to get excited about supply boats, etc. I agree that Hvide can't grow at 40% annually forever, but certainly for the next 4-5 years is possible. Even at a 25% growth rate, however, Hvide is undervalued.