Intrinsic value of Navios Maritime Acquisition - NNA

Previous Close

$0.43

  Intrinsic Value

$0.78

stock screener

  Rating & Target

str. buy

+82%

Previous close

$0.43

 
Intrinsic value

$0.78

 
Up/down potential

+82%

 
Rating

str. buy

We calculate the intrinsic value of NNA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  232
  237
  243
  250
  258
  266
  275
  285
  295
  307
  319
  332
  346
  360
  376
  392
  410
  428
  448
  468
  490
  513
  537
  562
  589
  617
  647
  678
  711
  746
Variable operating expenses, $m
  138
  141
  145
  149
  153
  158
  164
  169
  176
  182
  190
  197
  205
  214
  223
  233
  243
  254
  266
  278
  291
  305
  319
  334
  350
  367
  384
  403
  423
  443
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  138
  141
  145
  149
  153
  158
  164
  169
  176
  182
  190
  197
  205
  214
  223
  233
  243
  254
  266
  278
  291
  305
  319
  334
  350
  367
  384
  403
  423
  443
Operating income, $m
  94
  96
  99
  101
  104
  108
  111
  115
  120
  124
  129
  135
  140
  146
  152
  159
  166
  174
  182
  190
  199
  208
  218
  228
  239
  250
  262
  275
  288
  302
EBITDA, $m
  152
  156
  160
  164
  169
  175
  180
  187
  194
  201
  209
  218
  227
  236
  247
  257
  269
  281
  294
  307
  321
  336
  352
  369
  387
  405
  425
  445
  467
  489
Interest expense (income), $m
  72
  76
  77
  79
  81
  83
  86
  89
  92
  95
  99
  102
  106
  111
  115
  120
  125
  131
  137
  143
  150
  156
  164
  171
  180
  188
  197
  206
  216
  227
  238
Earnings before tax, $m
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
  37
  39
  40
  42
  44
  46
  49
  51
  53
  56
  59
  62
  65
Tax expense, $m
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  10
  11
  11
  12
  13
  13
  14
  14
  15
  16
  17
  17
Net income, $m
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  22
  24
  25
  26
  27
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,556
  1,592
  1,633
  1,679
  1,729
  1,785
  1,846
  1,912
  1,983
  2,059
  2,140
  2,227
  2,320
  2,418
  2,522
  2,633
  2,750
  2,874
  3,004
  3,142
  3,288
  3,442
  3,603
  3,774
  3,954
  4,143
  4,342
  4,552
  4,772
  5,004
Adjusted assets (=assets-cash), $m
  1,556
  1,592
  1,633
  1,679
  1,729
  1,785
  1,846
  1,912
  1,983
  2,059
  2,140
  2,227
  2,320
  2,418
  2,522
  2,633
  2,750
  2,874
  3,004
  3,142
  3,288
  3,442
  3,603
  3,774
  3,954
  4,143
  4,342
  4,552
  4,772
  5,004
Revenue / Adjusted assets
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
  0.149
Average production assets, $m
  1,307
  1,337
  1,371
  1,410
  1,452
  1,499
  1,550
  1,606
  1,665
  1,729
  1,797
  1,870
  1,948
  2,031
  2,118
  2,211
  2,309
  2,413
  2,523
  2,639
  2,761
  2,890
  3,026
  3,169
  3,320
  3,479
  3,646
  3,822
  4,007
  4,202
Working capital, $m
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
Total debt, $m
  1,087
  1,112
  1,141
  1,173
  1,209
  1,248
  1,291
  1,337
  1,387
  1,441
  1,498
  1,559
  1,625
  1,694
  1,767
  1,845
  1,927
  2,014
  2,106
  2,204
  2,306
  2,414
  2,528
  2,648
  2,775
  2,908
  3,048
  3,196
  3,351
  3,514
Total liabilities, $m
  1,095
  1,121
  1,149
  1,182
  1,218
  1,257
  1,300
  1,346
  1,396
  1,449
  1,507
  1,568
  1,633
  1,702
  1,776
  1,853
  1,936
  2,023
  2,115
  2,212
  2,315
  2,423
  2,537
  2,657
  2,783
  2,917
  3,057
  3,204
  3,359
  3,523
Total equity, $m
  461
  471
  483
  497
  512
  528
  546
  566
  587
  609
  634
  659
  687
  716
  747
  779
  814
  851
  889
  930
  973
  1,019
  1,067
  1,117
  1,170
  1,226
  1,285
  1,347
  1,412
  1,481
Total liabilities and equity, $m
  1,556
  1,592
  1,632
  1,679
  1,730
  1,785
  1,846
  1,912
  1,983
  2,058
  2,141
  2,227
  2,320
  2,418
  2,523
  2,632
  2,750
  2,874
  3,004
  3,142
  3,288
  3,442
  3,604
  3,774
  3,953
  4,143
  4,342
  4,551
  4,771
  5,004
Debt-to-equity ratio
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.360
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
  2.370
Adjusted equity ratio
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296
  0.296

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  22
  24
  25
  26
  27
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
Depreciation, amort., depletion, $m
  58
  60
  61
  63
  65
  67
  69
  72
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
  123
  128
  134
  141
  148
  155
  162
  170
  178
  187
Funds from operations, $m
  72
  73
  75
  78
  80
  83
  86
  89
  92
  96
  100
  104
  108
  113
  118
  123
  128
  134
  140
  147
  154
  161
  168
  176
  185
  194
  203
  213
  223
  234
Change in working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from operations, $m
  72
  73
  76
  78
  80
  83
  86
  89
  92
  96
  100
  104
  108
  113
  118
  123
  129
  135
  141
  147
  154
  161
  169
  177
  185
  194
  204
  213
  224
  235
Maintenance CAPEX, $m
  -57
  -58
  -59
  -61
  -63
  -65
  -67
  -69
  -71
  -74
  -77
  -80
  -83
  -87
  -90
  -94
  -98
  -103
  -107
  -112
  -117
  -123
  -128
  -134
  -141
  -148
  -155
  -162
  -170
  -178
New CAPEX, $m
  -27
  -30
  -34
  -39
  -43
  -47
  -51
  -55
  -60
  -64
  -68
  -73
  -78
  -83
  -88
  -93
  -98
  -104
  -110
  -116
  -122
  -129
  -136
  -143
  -151
  -159
  -167
  -176
  -185
  -195
Cash from investing activities, $m
  -84
  -88
  -93
  -100
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -153
  -161
  -170
  -178
  -187
  -196
  -207
  -217
  -228
  -239
  -252
  -264
  -277
  -292
  -307
  -322
  -338
  -355
  -373
Free cash flow, $m
  -13
  -15
  -18
  -22
  -25
  -28
  -32
  -35
  -38
  -42
  -45
  -49
  -52
  -56
  -60
  -64
  -68
  -72
  -76
  -81
  -86
  -90
  -96
  -101
  -106
  -112
  -118
  -125
  -131
  -138
Issuance/(repayment) of debt, $m
  21
  25
  29
  32
  36
  39
  43
  46
  50
  54
  57
  61
  65
  69
  73
  78
  82
  87
  92
  97
  103
  108
  114
  120
  126
  133
  140
  148
  155
  163
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  1
  1
  2
  3
  4
  4
  5
  6
  7
  7
  8
  9
  10
  11
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  22
Cash from financing (excl. dividends), $m  
  21
  25
  29
  32
  36
  40
  44
  48
  53
  58
  61
  66
  71
  76
  80
  86
  91
  97
  103
  108
  115
  121
  128
  135
  142
  150
  158
  167
  175
  185
Total cash flow (excl. dividends), $m
  9
  11
  11
  11
  11
  11
  12
  13
  14
  15
  16
  17
  19
  20
  21
  22
  23
  25
  26
  28
  29
  31
  33
  34
  36
  38
  40
  42
  44
  47
Retained Cash Flow (-), $m
  -10
  -11
  -12
  -14
  -15
  -17
  -18
  -19
  -21
  -23
  -24
  -26
  -27
  -29
  -31
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -62
  -65
  -69
Prev. year cash balance distribution, $m
  12
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  11
  0
  -2
  -3
  -4
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
Discount rate, %
  10.50
  11.03
  11.58
  12.16
  12.76
  13.40
  14.07
  14.77
  15.51
  16.29
  17.10
  17.96
  18.86
  19.80
  20.79
  21.83
  22.92
  24.07
  25.27
  26.53
  27.86
  29.25
  30.72
  32.25
  33.86
  35.56
  37.33
  39.20
  41.16
  43.22
PV of cash for distribution, $m
  10
  0
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  99.9
  99.5
  98.9
  98.2
  97.3
  96.4
  95.3
  94.1
  92.8
  91.5
  90.1
  88.6
  87.1
  85.6
  84.1
  82.5
  81.0
  79.4
  77.8
  76.3
  74.7
  73.2
  71.7
  70.1
  68.7

Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters. The Company's fleet includes approximately 38 double-hulled tanker vessels, aggregating approximately four million deadweight tons (dwt). The fleet includes approximately eight very large crude carrier (VLCC) tankers, which transport crude oil, and over eight Long Range 1 (LR1) product tankers; approximately 18 Medium Range 2 (MR2) product tankers, and over four chemical tankers, which transport refined petroleum products and bulk liquid chemicals. Its vessels include Nave Constellation, Nave Universe, Nave Polaris, Nave Cosmos, Nave Velocity, Nave Sextans, Nave Pyxis, Nave Luminosity, Nave Jupiter and Nave Pulsar.

FINANCIAL RATIOS  of  Navios Maritime Acquisition (NNA)

Valuation Ratios
P/E Ratio 1
Price to Sales 0.2
Price to Book 0.1
Price to Tangible Book
Price to Cash Flow 0.7
Price to Free Cash Flow 0.7
Growth Rates
Sales Growth Rate -7.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -100%
Cap. Spend. - 3 Yr. Gr. Rate -100%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 181%
Total Debt to Equity 190.6%
Interest Coverage 2
Management Effectiveness
Return On Assets 7.8%
Ret/ On Assets - 3 Yr. Avg. 7.3%
Return On Total Capital 3.7%
Ret/ On T. Cap. - 3 Yr. Avg. 3.3%
Return On Equity 11.2%
Return On Equity - 3 Yr. Avg. 10.4%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 97.2%
Gross Margin - 3 Yr. Avg. 97.6%
EBITDA Margin 66.6%
EBITDA Margin - 3 Yr. Avg. 64.3%
Operating Margin 37.6%
Oper. Margin - 3 Yr. Avg. 35.7%
Pre-Tax Margin 21.7%
Pre-Tax Margin - 3 Yr. Avg. 18.5%
Net Profit Margin 21.7%
Net Profit Margin - 3 Yr. Avg. 18.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 50.8%

NNA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NNA stock intrinsic value calculation we used $227.288 million for the last fiscal year's total revenue generated by Navios Maritime Acquisition. The default revenue input number comes from 0001 income statement of Navios Maritime Acquisition. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NNA stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.5%, whose default value for NNA is calculated based on our internal credit rating of Navios Maritime Acquisition, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Navios Maritime Acquisition.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NNA stock the variable cost ratio is equal to 59.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NNA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.1% for Navios Maritime Acquisition.

Corporate tax rate of 27% is the nominal tax rate for Navios Maritime Acquisition. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NNA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NNA are equal to 563.6%.

Life of production assets of 22.5 years is the average useful life of capital assets used in Navios Maritime Acquisition operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NNA is equal to -2.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $462.475 million for Navios Maritime Acquisition - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 147.086 million for Navios Maritime Acquisition is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Navios Maritime Acquisition at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
NM Navios Maritim 0.480 0.48  sell
STNG Scorpio Tanker 1.76 1.28  sell
GLOG GasLog 19.76 6.86  str.sell
TNP Tsakos Energy 3.36 4.32  buy
TOPS TOP Ships 1.57 1.36  buy
FRO Frontline 6.03 2.50  str.sell

COMPANY NEWS

▶ Navios: 3Q Earnings Snapshot   [08:21AM  Associated Press]
▶ Navios Maritime Midstream: 3Q Earnings Snapshot   [Nov-05-18 07:35PM  Associated Press]
▶ Ahoy, Matey! Navios Maritime Stock Upgraded   [Oct-17-18 02:49PM  Motley Fool]
▶ Navios: 2Q Earnings Snapshot   [07:41AM  Associated Press]
▶ Navios Maritime Midstream: 2Q Earnings Snapshot   [Jul-26-18 10:16AM  Associated Press]
▶ Navios: 1Q Earnings Snapshot   [07:23AM  Associated Press]
▶ Navios: 1Q Earnings Snapshot   [May-10-18 07:29AM  Associated Press]
▶ Navios Maritime Midstream: 1Q Earnings Snapshot   [May-03-18 07:56AM  Associated Press]
▶ Discounted Energy Stocks To Buy This May   [May-01-18 09:02AM  Simply Wall St.]
▶ Best Undervalued Energy Stocks To Buy Now   [Mar-27-18 09:02AM  Simply Wall St.]
▶ Navios reports 4Q loss   [Feb-21-18 08:02AM  Associated Press]
▶ Why Navios Maritime Partners Shares Sank 11% Today   [Feb-14-18 02:38PM  Motley Fool]
▶ Navios reports 4Q loss   [Feb-07-18 08:13AM  Associated Press]
▶ Navios Maritime Midstream posts 4Q profit   [Jan-31-18 07:53AM  Associated Press]
▶ New Strong Sell Stocks for January 26th   [Jan-26-18 06:47AM  Zacks]
▶ Navios Maritime Midstream Partners Has a Hold Rating   [Jan-04-18 10:33AM  Market Realist]
▶ Analysts Recommendations for NAP, DHT, and TNP   [Dec-26-17 07:32AM  Market Realist]
▶ NAP: Third-Best Performer in the Crude Tanker Space   [Dec-22-17 02:35PM  Market Realist]
▶ Navios reports 3Q loss   [07:47AM  Associated Press]
▶ 3 Safe-Haven Stocks to Buy Amid Tax-Reform Uncertainties   [Nov-12-17 02:10PM  TheStreet.com]
▶ 3 Safe-Haven Stocks to Buy Amid Tax-Reform Uncertainties   [Nov-10-17 03:30PM  TheStreet.com]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.