Friday, May 24, 2019
Pyxis Tankers (PXS)
Slight Improvement, But Still Tough. Looking for 2H2019 Recovery
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.
- A Slight Improvement Over 4Q2018, But Still Another Tough Quarter. Adjusted 1Q2019 EBITDA of $0.5 million was below our
estimate of $0.7 million. A shortfall in TCE revenue (-$0.1 million) and higher
opex ($0.2 million) more than offset slightly lower G&A expenses ($0.2 million). - Adjusting 2019 Estimate to reflect quarterly
results and expected 2H2019 recovery. Due to weaker operating results, we are lowering our 2019 EBITDA
estimate to $6.5 mill…
Get full report on Channelchek desktop.
*Analyst
certification and important disclosures included in full report.
NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.
