You're right Mightyatom - in an efficient market that would be the case, however I've seen in the last few years with heavily shorted companies that their short percentage goes down before ex-div even if the company disappoints with earning. MRM have given their guidance and I think are a great 'bet'. Largely shielded from 2015 earning, with the potential of oil going back up in the coming years in which they should be able to weather out the storm.
I've been taking a good look at other OSV providers globally and I find MRM to be the best value from what I have seen. EZRA for example have near identical value metrics, but with two huge differences - Their debt to equity is at 120% whilst MRM is at 60%, and their EPS is significantly lower than MRM.
Also they are quite comparable in fleet age and number of specialized high tech vessels.
I have to agree with the UBS valuation as a lower end fair value
You're right Mightyatom - in an efficient market that would be...
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Last
$2.58 |
Change
0.020(0.78%) |
Mkt cap ! $977.8M | |||
| Open | High | Low | Value | Volume |
| $2.56 | $2.59 | $2.54 | $37.20M | 14.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1350703 | $2.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.60 | 67518 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MRM (ASX) Chart |