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Tuesday, August 13, 2019
Pyxis Tankers (PXS)
On the Right Track for 2H2019 Rebound
Pyxis Tankers Inc is a US-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of six double hull product tankers, which are employed under a mix of short- and medium-term time charters and spot charters.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Some positive traction in 2Q2019. Adjusted 2Q2019 EBITDA of $1.3 million was in line with our estimate and above 1Q2019 EBITDA of $0.5 million, mainly due to better performance from the MR tankers. Versus 1Q2019, TCE revenue ($0.6 million) and slightly lower opex slightly lower G&A expenses ($0.1 million) were the main variances.
- Adjusted 2019 estimate reflects expected 2H2019 recovery. Our new 2019 EBITDA estimate is $5.8 million, which incorporates quarterly results and TCE rates of…
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