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

To: Mark who wrote (378)	5/8/1998 12:14:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 547

DLJ reiterates BUY with $35 target price in 12 mos. I sure liked the CC remarks; future looks pretty bright for this one. Here is info from DLJ: HVIDE MARINE (HMAR: $18.13)+* 05/07/98 In-Line 1Q98; Dayrates Rising ÿÿEarnings Per Share Old New P/E Ratios ÿÿ(FY:Dec.) 1999E$2.20$8.2ÿ1998E 2.00ÿ9.1ÿ1997A1.75ÿ10.4<Picture>Rating: BUY Change: None 12-Mo. Target: $35 <Picture> Yesterday, HMAR reported 1Q98 operating EPS of $0.43 versus $0.33 last year, in line with our and Street consensus estimates. An extraordinary charge of $0.04 per share for early extinguishment of debt made the reported net EPS to be $0.39 per share. EBITDA of $32.2 million was modestly above our estimate of $31.5 million, with the upside primarily reflecting modestly higher-than-expected dayrates from both its domestic and international offshore-energy fleets. Although we have modestly raised our dayrate forecasts for the domestic and international offshore-energy fleets during the balance of the year, lower utilization expectations result in our EPS estimates remaining unchanged.