Stocks Making Noise: Baltic Trading Ltd (BALT), Swift Energy Company (SFY), And Accuray Incorporated (ARAY)
New York, NY – GDP INSIDER – 01/05/2014.
The management of Baltic Trading Ltd (NYSE:BALT) is pleased with the progress they are making to put the bulk shipping company on a solid growth path this year and beyond. The company is acquiring new vessels to improve its capacity and enhance efficient operation, which are considered a plus in the shipping space.
The company’s President and CFO, John C. Wobensmith, recently commented that an expanded fleet and a strategic deployment of the same will drive growth in Baltic Trading Ltd (NYSE:BALT). The management is also betting on the improvement of freight rates to improve performance. Unfavorable rates have been blamed for its tepid performance in the recent quarters.
Baltic Trading Ltd (NYSE:BALT) generated revenue of $10 million in the most recent quarter, which was up 10% from a year earlier. Although revenue improved in the latest quarter, the company sunk deeper into losses in the quarter, losing $5.5 million compared with $2.3 million.
Swift Energy Company (NYSE:SFY) hinted at plans to have a more slanted capital allocation this year compared with 2014. Particularly, the management of the oil and gas company said they planned to tilt their capital spending in 2015 in favor of the Eagle Ford. To them, Eagle Ford is expected to continue drawing respectable returns of about $80 a barrel.
In general, part of Swift Energy Company (NYSE:SFY)’s objectives for 2015 is to cut capital expenditure levels compared with 2014. The move comes as the company was recently urged by one of its major shareholders to consider cost-cutting to arrest runaway debt. Baker Street Capital, which owns 10% equity interest in Swift Energy, accused the company’s management of poor capital allocation, leading to huge debt that is toxic to the shareholders.
Accuray Incorporated (NASDAQ:ARAY) faces 2015 with greater optimism, especially following the exclusive deal with Premier Inc. According to Accuray’s CEO, Joshua Levine, the network of Premier represents about 40% of hospitals in the U.S., which offers great potential for them.
However, the company is also aware of challenges such as a weak global market, competition and uncertainties concerning reimbursement.
Accuray Incorporated (NASDAQ:ARAY) achieved 7% increase in revenue in the most recent quarter, mostly driven by the product revenue, which was up 12%.
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