reports
Novo Nordisk AS: 1 director
A director at Novo Nordisk AS sold 55,000 shares at 902.625DKK and the significance rating of the trade was 81/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Small guidance raise
Q1 LCY figures beat consensus due to US rebate adjustments related to 2023 adding c5%-points to LCY growth and low SG&A cost boosting EBIT growth in Q1. Wegovy sales were below consensus but above our forecast, and we have therefore adjusted our rebate assumptions for 2024. The 2024 guidance was raised to LCY sales growth of 19–27% (18–26%) and LCY operating profit growth of 22–30% (21–29%). We reiterate our BUY and DKK1,100 target price.
- Jørgen Lian
Safe Bulkers Minor model adjustments
We have updated our estimates, owing to the Q1 report and its updated contract backlog at healthy rates providing visibility on cash flows for the coming quarters. The market is still pricing Safe Bulkers at c50% of NAV, which screens at a noticeable discount to peers’ average P/NAV of ~0.8x. This, along with its contract portfolio, continues to provide relatively attractive exposure to the dry bulk segment, despite potential downside risk to demand on fundamental drivers in China (importer of ~...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Are the Lows "In" for this Pullback? While we are not yet out of the woods, we continue to see evidence that suggests the lows may be "in" for this pullback. Last week (4/23/24 Compass) we discussed the possibility that further downside was limited on the S&P 500 due to a multitude of reasons (SPX had simply filled 2/22/24 gap support that we had been discussing since late-February, Russell 2000 and Equal-Weighted S&P 500 were holding above key supports, short-term oversold conditions, subdued ...
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HWM HOWMET AEROSPACE INC COM
Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Div...
Safe Bulkers, Inc. Reports First Quarter 2024 Results and Declares Dividend on Common Stock MONACO, April 29, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three month periods ended March 31, 2024. The Board of Directors of the Company also declared a cash dividend of $0.05 per share of outstanding common stock. Financial highlights In million U.S. Dollars except per share dataQ1 2024Q4 2023Q3 2023Q2 2023Q1 2023Net revenues81.782...
- Jørgen Lian
Yard response and dry bulk qualms
Our trip to South Korea and China revealed Chinese shipbuilders are seeking growth to take on Korea’s established yards who are facing constraints. An eagerness to add capacity is one of our takeaways, as well as a gloomy outlook for Chinese real estate, which in our view should inevitably weigh on dry bulk demand.
DHT DHT HOLDINGS INC.
SBL SAFE BULKERS INC.
LPG DORIAN LPG
GNK GENCO SHIPPING & TRADING LTD.
MAERSK B A.P. MOLLER - MAERSK A/S CLASS B
ODF ODFJELL ASA
WAWI WALLENIUS WILHELMSEN LOGISTICS ASA
WWI WILHELM WILHELMSEN HOLDING
SBLK STAR BULK CARRIERS CORP.
FRO FRONTLINE LTD.
G2O GOLAR LNG LIMITED
AMSC AMERICAN SHIPPING COMPANY ASA
SN6 STOLT-NIELSEN LTD.
BWLPG BW LPG LTD.
GOGLO GOLDEN OCEAN GROUP LTD
AVACF AVANCE GAS HOLDINGS LTD
HUNT HUNTER GROUP ASA
STNG SCORPIO TANKERS INC.
FLNG FLEX LNG LTD.
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
2020 2020 BULKERS LTD
KCC KLAVENESS COMBINATION CARRIERS
EGLE EAGLE BULK SHIPPING
MPCC MPC CONTAINER SHIPS AS
HAUTO HOEGH AUTOLINERS ASA
WEST WESTERN BULK CHARTERING
HAFNI HAFNIA
COOL COOL COMPANY LTD.
HSHP HIMALAYA SHIPPING LTD.
- Jørgen Lian
Safe Bulkers (Buy, TP: USD5.70) - Still discounted dry bulk exposure
The market is pricing Safe Bulkers at a ~50% discount to NAV, which we believe mitigates any potential vessel value risk and leaves a still-favourable risk/reward towards the dry bulk supply-side narrative. However, we find the recent dry bulk freight market strength counter to fundamental demand drivers in China (importer of ~75% of seaborne iron ore volumes and ~50% of overall volumes), and see some market downside risk near-term. Still, at today’s share price, we see an attractive 17% earning...
Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newb...
Safe Bulkers, Inc. Announces Agreement for the Acquisition of One Newbuild Japanese Kamsarmax Class Dry-bulk Vessel MONACO, April 26, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into an agreement for the acquisition of a Japanese, 82,000 dwt, dry-bulk, Kamsarmax class vessel, with a scheduled delivery date within the fourth quarter of 2026. The newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduct...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Company consensus added
We are slightly below consensus on Q1e LCY sales growth (we forecast 19.4%, consensus 21.4%) and LCY operating profit growth (we forecast 16.8%, consensus 19.5%), due to lower expected Wegovy sales. However, we believe the Ozempic US prescription trend will prompt management to raise the 2024 guidance to LCY sales growth of 20–28% (18–26%) and LCY operating profit growth of 23–31% (21–29%). We reiterate our BUY and DKK1,100 target price.
Safe Bulkers, Inc. Sets Date for the First Quarter 2024 Results, Confe...
Safe Bulkers, Inc. Sets Date for the First Quarter 2024 Results, Conference Call, and Webcast Earnings Release: Monday, April 29, 2024, After Market Closes Conference Call and Webcast: Tuesday, April 30, 2024, at 10:00 A.M. Eastern Time MONACO, April 24, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it will release its results for the first quarter ended March 31, 2024, after the market closes in New York on Monday, April 29, 2024. On Tuesday, April 30, 2024, at...
Star Bulk Carriers Corp: 1 director
A director at Star Bulk Carriers Corp sold 30,000 shares at 23.490USD and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two year...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Ozempic to drive raised guidance
We are slightly below consensus on Q1 LCY sales growth (we forecast 19.4%, consensus 20.1%) and LCY operating profit growth (we forecast 16.8%, consensus 17.3%), due to lower expected Wegovy sales. However, we believe the trend in Ozempic US prescriptions will prompt management to raise the 2024 guidance to LCY sales growth of 20–28% (18–26%) and LCY operating profit growth of 23–31% (21–29%). We reiterate our BUY and DKK1,100 target price.
Star Bulk Completes Merger With Eagle Bulk
Star Bulk Completes Merger With Eagle Bulk ATHENS, Greece, April 09, 2024 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (“Star Bulk”) (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has completed its merger with Eagle Bulk Shipping Inc. (“Eagle”). Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange. Petros Pappas, C...
Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C C...
Safe Bulkers, Inc. Declares Quarterly Dividend on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares; 8.00% Series D Cumulative Redeemable Perpetual Preferred Shares MONACO, April 03, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that the Company’s Board of Directors has declared: a cash dividend of $0.50 per share on its 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”) (NYSE: SB.PR.C) for the period from January ...
- Jørgen Lian
A brewing challenge for the yards
Our 17th Annual Energy & Shipping Conference was well attended by investors and industry executives showcasing the still-growing interest for the sectors. Limited yard capacity is fuelling high newbuilding prices and raising freight rate expectations for the vast fleet renewal necessary in the coming decade. Long lead times underpin a bullish supply story for much of shipping in the coming years, albeit exposed to geopolitical risks affecting trade patterns. Our overall impression was general op...
DHT DHT HOLDINGS INC.
SBL SAFE BULKERS INC.
LPG DORIAN LPG
GNK GENCO SHIPPING & TRADING LTD.
MAERSK B A.P. MOLLER - MAERSK A/S CLASS B
ODF ODFJELL ASA
WAWI WALLENIUS WILHELMSEN LOGISTICS ASA
WWI WILHELM WILHELMSEN HOLDING
SBLK STAR BULK CARRIERS CORP.
FRO FRONTLINE LTD.
G2O GOLAR LNG LIMITED
AMSC AMERICAN SHIPPING COMPANY ASA
SN6 STOLT-NIELSEN LTD.
BWLPG BW LPG LTD.
GOGLO GOLDEN OCEAN GROUP LTD
AVACF AVANCE GAS HOLDINGS LTD
HUNT HUNTER GROUP ASA
STNG SCORPIO TANKERS INC.
FLNG FLEX LNG LTD.
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
2020 2020 BULKERS LTD
KCC KLAVENESS COMBINATION CARRIERS
EGLE EAGLE BULK SHIPPING
MPCC MPC CONTAINER SHIPS AS
HAUTO HOEGH AUTOLINERS ASA
WEST WESTERN BULK CHARTERING
HAFNI HAFNIA
COOL COOL COMPANY LTD.
HSHP HIMALAYA SHIPPING LTD.
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Raising the bar with amycretin
At its CMD, the company maintained its strategic aspirations for 2025. It also expects increasing operating profit margins in the coming years. A key focus was the phase I trial results for amycretin in obesity, showing 13.1% weight loss (no signs of plateau). While not confirmed, we still expect it to go directly to phase III development. We reiterate our BUY and have increased our target price to DKK1,100 (1,000) on higher pipeline valuation.
Safe Bulkers, Inc. Announces the Sale of Two Dry-bulk Vessels
Safe Bulkers, Inc. Announces the Sale of Two Dry-bulk Vessels MONACO, March 06, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has entered into two separate agreements, for the sale of MV Panayiota K, a 2010-built Post-Panamax class dry-bulk vessel, at a gross sale price of $20.45 million and delivery date in April 2024 and of MV Paraskevi 2, a 2011-built, Panamax class, dry-bulk vessel, at a gross sale price of $20.3 million and forward delivery date in July 2024. Dr. Louk...
Star Bulk Carriers Corp. Announces Change Of Transfer Agent And Regist...
Star Bulk Carriers Corp. Announces Change Of Transfer Agent And Registrar ATHENS, Greece, March 04, 2024 (GLOBE NEWSWIRE) -- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK) a global shipping company focusing on the transportation of dry bulk cargoes announced that, effective immediately, COMPUTERSHARE TRUST COMPANY, N.A. (“COMPUTERSHARE”) is appointed as the Company’s Sole Transfer Agent and Registrar of its shares trading under ticker symbol SBLK on NASDAQ. Shareholders need take no action in respect of the change in registrar and transfer agent services. All inqu...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1000.00) - Catalent: game changer
We believe the move by Novo Holding to acquire Catalent and re-sell the three fill-finish facilities to Novo Nordisk is inspired, and underpins the strength of having the foundation as a major shareholder. With the acquisition, the obesity opportunity moves from supply to demand-driven, while at the same time making scale a significant competitive advantage. We have upgraded to BUY (HOLD) and raised our target price to DKK1,000 (800).
Safe Bulkers Announces Filing of 2023 Annual Report on Form 20-F
Safe Bulkers Announces Filing of 2023 Annual Report on Form 20-F MONACO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (“Safe Bulkers”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has filed its 2023 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (the “SEC”). The 2023 Annual Report on Form 20-F is available by link through the Company’s website, , under Investors and SEC Filings. Alternatively, shareholders may also receive a hard copy of the 2023 Annual Report on Form 20- F, free of charge, ...
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