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Dry Bulk 2011: Working Through the Glut

Stocks in this article: DRYS DSX EXM GNK

DryShips

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P/E Ratio: 25.45

Company Profile
Is DryShips even a dry-bulk carrier? Some argue that it isn't, what with its push into the oil-rig business and its recent controversial acquisition of a dozen oil-tanker orders, allegedly unloaded onto DryShips by its CEO, George Economou, who controls a private fleet. (The company has denied the allegation.) DryShips promises to reward shareholders by spinning off the two fleets (rigs, tankers) into two separate companies. But tanker market fundamentals are abysmal, and the most-recent shipping IPOs have been duds.

Income Statement
DryShips hasn't set a date for its fourth-quarter earnings report. Wall Street analysts are targeting a bottom line of 25 cents a share on revenue of $220 million. That would mark improvement over the fourth period of 2009, when the company earned 19 cents a share, on revenue of $193 million.

Analyst Ratings
Sentiment among the nine analysts covering DryShips is evenly split between bears and bulls. Four analyst rate the stock at the equivalent of strong buy and four at hold. One analyst, meanwhile, has a strong sell rating on the stock.

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