No Q3 investment, ample capacity
We forecast DPS of USD0.19, in line with consensus, implying an annual dividend yield of 8.6%. Our EBITDA forecast is USD76m, in line with consensus at USD77m. While the company has ample investment capacity, no new deal was announced in Q3. Our impression is that inbound potential deals increased in recent quarters, but so has the competition. We have raised our target price to NOK71 (68) on FX, and thus maintain our HOLD recommendation as we find the shares fairly valued.Ocean Yield provides investments in vessels within oil-service and industrial shipping industry. Co. is a ship-owning company with investments in vessels on long-term charters.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.