Great Eastern Shipping Company Receives Upgraded Stock Call from MarketsMOJO
Great Eastern Shipping Company, a midcap shipping company, has recently received an upgraded stock call from MarketsMOJO. The company's stock has been upgraded to 'Hold' on November 25, 2024.The upgrade is based on several factors, including the company's low Debt to Equity ratio of 0.08 times, indicating a strong financial position. Additionally, the company has shown healthy long-term growth with an annual operating profit growth rate of 48.61%.
The technical trend for the stock is currently sideways, indicating no clear price momentum. However, it has improved from being mildly bearish on November 21, 2024, and has generated a return of 2.28% since then.
With a ROE of 21, the stock is currently trading at a fair value with a price to book value of 1.2. This is in line with its average historical valuations. In the past year, the stock has generated a return of 32.90%, while its profits have increased by 12.3%. The company's PEG ratio is 0.5, indicating a fair valuation.
Great Eastern Shipping Company also has a high institutional holding of 40.33%, which shows that these investors have better capabilities and resources to analyze the company's fundamentals compared to retail investors.
The company has consistently outperformed the BSE 500 index in the last three annual periods, further highlighting its strong performance. With a market cap of Rs 15,430 crore, it is the biggest company in the shipping sector, constituting 42.35% of the entire sector. Its annual sales of Rs 5,605.09 crore make up 41.08% of the industry.
In the latest quarter, the company's results were flat, with a fall in PBT LESS OI(Q) at Rs 384.39 crore, a decrease of 28.0%, and a fall in PAT(Q) at Rs 575.57 crore, a decrease of 19.2%. However, the non-operating income (Q) is 36.96% of the profit before tax, indicating a strong performance in this aspect.
Overall, Great Eastern Shipping Company is a strong midcap company in the shipping industry, with a solid financial position, consistent returns, and a fair valuation. Investors may consider holding onto their stocks for potential future growth.
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