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SmallCapReview Adds Paragon Shipping to its Portfolio - SmallCapReview.com, a leading small-cap stock information site, is pleased to announce that Paragon Shipping (Nasdaq: PRGN) has been named as
SmallCapReview Adds Paragon Shipping to its Portfolio

 

PRZOOM - /newswire/ - Winston-Salem, NC, United States, 2009/05/20 - SmallCapReview.com, a leading small-cap stock information site, is pleased to announce that Paragon Shipping (Nasdaq: PRGN) has been named as "Stock of the Month".

   
 
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Paragon Shipping is a global shipping transportation company specializing in drybulk cargoes. Its vessels are able to trade worldwide in a multitude of trade routes carrying a wide range of cargoes covering a number of industries, including iron ore, coal, grain, bauxite, phosphate, and fertilizers. The fleet carrying capacity totals 765,137 deadweight tons.

In March we brought you Star Bulk Carriers (Nasdaq: SBLK) at $1.82, the stock closed yesterday at $4.14 and is looking for more.

Shipping rates were at an all time high in June of '08 and and subsequently fell to a six year low. The Baltic Dry Index (BDI), which represents the daily average of prices to ship raw materials, has been steadily moving off its lows.

Many consider the BDI as the leading indicator of forthcoming global trade. With prices now on the rebound the entire sector stands to benefit. In an industry where many have suspended dividends, one company, Paragon Shipping (PRGN) $4.74, continues to deliver, announcing a quarterly dividend of $0.05 per share, payable on June 9, 2009 to shareholders of record as of May 29, 2009.

In addition, the Company has a share repurchase program of up to an aggregate of $20 million of its Common Shares, through December 31, 2009. The number of shares short have been reduced from 876K to 191K in the past month.The price to earnings ratio is ridiculously low at 1.85, the industry average, itself very low is around 5 and the Company is currently sporting a one year price target price of $11.01.

Paragon Shipping just reported net income of $19.2 million for the first quarter of 2009, earnings per share, basic and diluted for the first quarter of 2009 were $0.54. For the remainder of '09 Paragon Shipping says that it has booked 95% of its capacity. All things considered, Paragon Shipping appears to be a relatively safe play, if such a thing exists, in what is a volatile sector.

Features available at SmallCapReview.com include in-depth profiles of select Small-Cap/Penny Stocks as well as the most comprehensive and up to date news available on the small-cap market. SmallCapReview.com is not a registered investment advisor or broker/dealer. No investor should assume that reliance on the views, opinions or recommendations contained herein will produce profitable results. Nothing within our site should be construed as an offer or solicitation to buy or sell products or securities. The companies we profile may lack an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. SmallCapReview.com may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our website or within our reports. SmallCapReview has not been compensated by Paragon Shipping nor does it hold a position as of this time. SmallCapReview may decide to purchase or sell shares on a voluntary basis in the open market before, during or after the profiling period of this report.

 
 
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SmallCapReview Adds Paragon Shipping to its Portfolio

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Contact: Thomas Englebert - SmallCapReview.com 
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PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any SmallCapReview securities in any jurisdiction including any other companies listed or named in this release.

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