Aegean Marine Petroleum is expected to earn 39 cents this year, down from 53 cents last year, but earnings are expected to rise dramatically in 2012. The stock is selling at about 14 times trailing earnings and 5 time forward earnings estimates. The company's larger competitor, World Fuel Services (INT), sells for about 15 times trailing earnings and 13 times forward estimates. Even if earnings for Aegean Marine Petroleum revert to 2010 levels when it earned 53 cents per share, the stock is worth at least 50% more than where it now stands.Aegean is one of TheStreet Ratings' top-rated shipping stocks. Hellenic Telecommunications What is it like to be a telecom in one of the worst economies in the world right now? Look no further than Hellenic Telecommunications (HLTOY: Pink Sheets). This telecom gets no respect just because it is located in Greece. Telecommunications in this day and age is a priority for people of all ages and locales. We are in the mobile telecom age. Do you think that the people of Greece are going to give up on Facebook and Twitter just because their government is broke? I think not. Hellenic Telecomm has a very secure balance sheet and generates strong cash flow. The company paid off $3.3 billion of its long-term debt the past two years, down to a level of $4.3 billion at the end of 2010. Furthermore, the stock earns a dividend of about 10 cents per share annually. Since the end of 2010, the stock has dropped by nearly 45%, from $4 on New Year's Eve day. I consider Hellenic Telecomm an excellent component of my four cheap speculative Greek stocks and expect it to perform much better once Greece moves beyond its current crisis. -- Written by Scott Rothbort in Millburn, N.J.
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