New Value Analysis of Aegean Marine Petroleum Network Inc (NYSE:ANW) 2018
New Value Analysis of Aegean Marine Petroleum Network Inc (NYSE:ANW) 2018
A new value analysis of Aegean Marine Petroleum Network Inc (NYSE:ANW), a company listed on the New York Stock Exchange, has been added to our research pages here. ANW is an international marine fuel logistics company that physically supplies refined marine fuel and lubricants to ships in port and at sea. ANW buys fuel and lubricants from refineries, oil producers, and traders and resells it to its customers in commercial shipping and cruise lines.
ANW’s share price has declined from around $10 5 years’ ago to $2.65 on the date of this analysis. The decline is over 70%, which might be related to the loss that has just been announced . However, the price decline also creates an opportunity for value investors.
ANW released unaudited results for 2017 on 7 March 2018. The unaudited results record that ANW made a loss in 2017. When a company makes a loss it makes value analysis difficult particularly in relation to the earnings exhibit. A negative earnings number means that there is no price to earnings ratio to assess the value of the ANW common stock at the current price.
As the data for 2017 is unaudited and the Annual Report for 2017 is not yet released, some of the detail around the causes of the loss are not yet available for investors. However, much information is available in the news release for the unaudited results, which can be found here. The news release specifically mentions that $12 million of the Q4 loss is related to the accounting process for derivatives. The data for the full year 2017 also shows that the biggest change in costs from 2016 is the increase in financing costs. The full information will only be available when the 2017 Annual Report is available, but investors can make a judgment about the likelihood of further losses from comments in the news release. In particular the reference to the portion of the Q4 loss relating to non-recurring items including the derivatives accounting.
The 2017 loss makes the analysis for earnings problematic, but does not impact the analysis of the price to assets. The assessment of the price to assets indicates the opportunity for value investors.
To find out exactly why value investors would consider an investment in Aegean Marine Petroleum Network Inc click here to download the new analysis.
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