Epic : GOC

Web site : http://www.gocarriers.com/

Global Oceanic Carriers Limited (GO Carriers) is a Jersey Channel Islands registered company and is a fully integrated shipping company comprising ship ownership, management, chartering, brokering, and through its strategic partnerships, ship building and repair concentrated within the dry bulk sector.



Superb summary here : http://boards.fool.co.uk/Message.asp?mid=10520002

And the new contracts announced today have just increased the earnings figures in the TMF summary post.






.

I think so, BT. Am still trying to find some more cash to put into it.

I notice that trading volume so far today is 48k, above the average already, so could this be a good day for GOC?

L2 is all blue and now 1 v 1 @108/112

If you look at say BMS, and look at their rating, and other sector stocks, its easy to see that GOC is very undervalued presently.

I'll keep tucking them away, and waiting for the rerating to happen :)

If you take BMS which is in the same sector, this is trading at around 11 times curent year forecasts.

If you apply that 11 times rating to GOC, you get 253p "fair value" for GOC just on that sector comparison.

Would seem the market is a bit lite of shares given the tick up on every buy, exciting growth story in the making here.

Yep - up approx 6% on t/o of only 80K: GOC Bid: 110p Offer: 115p Change: 6

Suits me fine :o)

PP, thanks for the BMS reference, as I was planning to look into sector comparisons.

Even if you go down to 8.5 times forward (which is the average rating of shippers (those with ships) across Europe, you still have a value of over 200p.

Therefore, for me, I would have a 200p target for now, and see how things go after that is reached.

www.chart-breakouts.co.uk comment at 12:40pm today, spot on re MMs i guess.

"A good move up for our new buy GOC today and it would seem the Market-makers haven't a great deal of stock given the spread and the amount of stock they are willing to sell. We really like the look of this stock and as we said yesterday brokers are forecasting eps of nearly 22p for 2008 (link) putting the shares on a bargain pe ratio. A few good comments on bulletin boards suggests if the stock is re-rated to its peers then the share price would be more than twice the current value. Some stocks are often overlooked and we're hoping this is the case here as we have managed to buy a decent amount."

www.chart-breakouts.co.uk

GOC Bid: 115p Offer: 122p Change: 12 on trading volume of 181K, which, for this stock, is pretty decent.

Managed to get my Dad involved as well, at 115p, so he's chuffed :o)

Thanks for the post, Dave.

From a post on AFN :

jimmymac2 - 17 May'07 - 22:21 - 242 of 242
had a few today:

Share Whisper:

"meanwhile there was solid buying in Aim listed GOC the supplier of bulk shipping as word of broker upgrades and strong trading did the rounds"

wish they' narrow the spread, want to add, maybe i'll just have to bite the bullet, has always been a big spread unfortunately.

Dave, as long as this stock is as tightly held as I suspect it is, there's always going to be this problem of the wide spread.

5p is about the norm - at one point yesterday it was 7p; after a couple of larger sales today it was down to 3p - in the end you just take your chances. :o)

GOC Bid: 117p Offer: 122p Change: 1, 78K traded.

Well, the SP is off 1p on the day so far, but this seems to have loosened up the trading a bit, with 138K traded and buys:sells at 2:1.

GOC Bid: 115p Offer: 120p Change: -1

Suprisingly strong for a Friday (when short terms profit take) after a decent rise. I'll keep adding bits at a time.

200p target price for me..... :)

Up now, though: GOC Bid: 120p Offer: 121p Change: 2

Although not quite as high at the finish: GOC Bid: 117p Offer: 122p Change: 1

273K traded, which was quite high volume for this stock. Buys:sells about equal.

more to come next week? I hope so.

Wishing all you Goccers a good weekend.

ST.

Just as a comparison of the Industrial Transportation sector from Digital Look in general, from the latest figures today, from their site. Its different operations, just from the same "sector" as a general comparison :


Christian Salvesen (SVC) Price = 64p / 07/08 EPS forecast = 3.58p / P/E = 17.9
Broker Rec : Sell

Braemar Seascope (BMS) Price = 437.75p / 07/08 EPS forecast = 37.64p / P/E = 10.7 Broker Rec : Strong Sell

Goldenport (GPRT) Price = 385.5p / 07/08 EPS forecast = 35.41p / P/E = 10.9
Broker Rec : Buy

Global Oceanic Carriers (GOC) Price = 119.5p / 07/08* EPS Forecast = 21.71p P/E = 5.5 Broker Rec : Strong Buy

(* 07/08 will be current year come 1st June 07)


The good thing also is for GOC the 08/09 EPS forecast (will become forward forecast EPS come 1st June 07) is 33.33p which means the PER falls to times 3.6, which likely explains the broker Strong Buy rating.

Wow - that means that on current SP, the PEG from 07/08 to 08/09 would be 0.072.

A good bit of research, PP - thanks!

Will be adding on any weakness, perhaps could have taken a gamble on buying a few more from the outset...

Agreed, BT. However, I think at this PE and with the future looking so good, there is unlikely to be very much weakness. It's less about what happens over the next week or so, and more about where this is going to be next summer, but PDYOR and make up your own mind :o)

GOC Bid: 120p Offer: 124p Change: 2.5, 57K traded.

I notice that the spread this morning was 2p, 120/122 but has since widened to 4p.

In the end, it didn't really do much today, did it?