Market's view on Gulf Marine Services
Published on April 2024
- Stock watchers noted the approval for market purchases of shares included in the AGM voting slip, observing that while common, it remains a notable inclusion.
- Discussions highlighted potential strategies for announcing dividends, focusing on financial metrics and the possibility of renegotiating loan terms.
- There is speculation about a strong interest in the company from institutions in London, seen as a positive indicator.
- Observations were made on the company finally trading at book value, with expectations of a further increase.
- Stock watchers commented on the full utilisation of company assets, tempering expectations for a rapid rise in stock value.
- The ongoing process of transitioning from lower to higher rate contracts was pointed out as a significant factor for future revenues.
- Positive reflections on the recent financial results, highlighting debt reduction, revenue increase, and potential lower refinancing costs.
- Discussions included the anticipation of substantial dividends being feasible while maintaining aggressive debt repayment.
- Concerns were raised about the high enterprise value due to large debts, influencing some stock watchers to sell their shares.
- There is a general consensus on the positive outlook for 2024, with expectations of upgraded financial metrics and continued deleveraging.