Top 10 Penny Stocks To Own Right Now

tags:HCKT,RIG,SIRI,BAMM,PTI,TIS,AIM,XIN,III,RMCF, LISTEN TO ARTICLE 5:29 SHARE THIS ARTICLE Facebook Twitter LinkedIn Email

Ryanair Holdings Plc is grappling with major strikes for the first time in its three-decade history. Disruption is set to hit a new peak Friday with at least 400 flights lost across five nations as pilots ramp up a bid to wrest better contracts from a company defined by its penny-pinching culture.

Top 10 Penny Stocks To Own Right Now: The Hackett Group Inc.(HCKT)

Advisors' Opinion:

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on The Hackett Group (HCKT)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Joseph Griffin]

  The Hackett Group, Inc. (NASDAQ:HCKT) has been assigned a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

• [By Motley Fool Transcribers]

  Hackett Group Inc  (NASDAQ:HCKT)Q4 2018 Earnings Conference CallFeb. 19, 2019, 5:00 p.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

• [By Shane Hupp]

  Get a free copy of the Zacks research report on The Hackett Group (HCKT)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on The Hackett Group (HCKT)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

Top 10 Penny Stocks To Own Right Now: Transocean Inc.(RIG)

Advisors' Opinion:

• [By Joseph Griffin]

  CenturyLink Investment Management Co trimmed its stake in Transocean LTD (NYSE:RIG) by 10.7% during the third quarter, Holdings Channel reports. The fund owned 97,454 shares of the offshore drilling services provider’s stock after selling 11,676 shares during the period. CenturyLink Investment Management Co’s holdings in Transocean were worth $1,359,000 as of its most recent filing with the Securities & Exchange Commission.

• [By Lisa Levin]

  Check out these big penny stock gainers and losers

  Losers Aceto Corporation (NASDAQ: ACET) fell 41.9 percent to $4.30 in pre-market trading. ACETO board disclosed that it is taking proactive steps to address business and financial challenges. Canaccord Genuity downgraded Aceto from Buy to Sell. Helios and Matheson Analytics Inc. (NASDAQ: HMNY) fell 25.3 percent to $2.86 in pre-market trading after reporting an ATM offering of $150 million. Pier 1 Imports, Inc. (NYSE: PIR) fell 17.4 percent to $2.86 in pre-market trading after reporting a fourth quarter sales miss. Comps were down 7.5 percent in the quarter. Sleep Number Corporation (NASDAQ: SNBR) fell 12.4 percent to $32.00 in pre-market trading following a first quarter earnings miss. Paratek Pharmaceuticals, Inc. (NASDAQ: PRTK) fell 10.2 percent to $11.90 in pre-market trading on news of $125 million convertible debt offering. Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) shares fell 8 percent to $8.02 in pre-market trading after dropping 2.02 percent on Wednesday. Exponent, Inc. (NASDAQ: EXPO) shares fell 5.6 percent to $80 in pre-market trading. Lumentum Holdings Inc. (NASDAQ: LITE) shares fell 4.8 percent to $60.00 in pre-market trading after rising 1.78 percent on Wednesday. vTv Therapeutics Inc. (NASDAQ: VTVT) fell 4.6 percent to $2.10 in pre-market trading after surging 84.87 percent on Wednesday. Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) shares fell 4.5 percent to $40.07 in pre-market trading after the company reported Q1 results. Align Technology, Inc.. (NASDAQ: ALGN) fell 3.5 percent to $267.40 in pre-market trading after rising 1.61 percent on Wednesday. Transocean Ltd. (NYSE: RIG) shares fell 3.5 percent to $12 in pre-market trading after the company issued quarterly fleet status report. GoPro, Inc. (NASDAQ: GPRO) fell 3.2 percent to $4.90 in pre-market trading. Unilever PLC (NYSE: UL) fell 2.6 percent to $54.73 in pre-market
• [By Spencer Israel]

  Oil companies were popular sells for the month, including ConocoPhillips (NYSE: COP), BP p.l.c. (NYSE: BP), and Transocean Ltd. (NYSE: RIG) all net sold. Investors also net sold Alcoa Corp. (NYSE: AA), Starbucks Corporation (NYSE: CMG). and Facebook Inc. (NASDAQ: FB) in the midst of CEO Mark Zuckerberg's testimony before Congress. 

• [By The Ticker Tape]

  TD Ameritrade clients appeared to take some profits in multiple names during the period. Oil companies were popular sells with ConocoPhillips (NYSE: COP), BP  PLC (ADR) (NYSE: BP), National-Oilwell Varco Inc. (NYSE: NOV), and Transocean LTD (NYSE: RIG) all net sold. Oil prices traded near three-year highs on higher global demand and possible OPEC-led production cuts. COP and BP both traded at multi-year highs, while NOV and RIG reached 52-week highs, enticing clients to take profits in all four names. Alcoa Corp. (NYSE: AA) traded at levels not seen since before the financial crisis following proposed tariffs on steel and aluminum, and was net sold. For the third month in a row, Facebook, Inc. (NASDAQ: FB) was net sold after CEO Mark Zuckerberg testified before Congress regarding the misuse of user data and a beat on earnings.

• [By Jason Hall]

  So what's an investor to do? Owning the companies best-positioned to profit is a great place to start. Consider two of Big Oil's finest in Royal Dutch Shell plc (ADR) (NYSE:RDS-A)(NYSE:RDS-B) and Total SA (ADR) (NYSE:TOT), offshore driller Transocean LTD (NYSE:RIG) and natural gas for transportation specialist Clean Energy Fuels Corp (NASDAQ:CLNE).

• [By Jason Hall]

  Frankly, today's big drop shouldn't be a surprise for anyone. The company told us many months ago that common equity investors would only retain 2% -- at most -- of the company when it completed its bankruptcy proceedings, yet investors continued to pay a price for its stock that, at one point, would have made Seadrill worth nearly as much as competitors Transocean (NYSE:RIG), Diamond Offshore (NYSE:DO), and Noble Corporation (NYSE:NE) combined. But a relatively steady decline in the share price, combined with today's big drop, seems to be finally putting Seadrill more in line with its peers. 

Top 10 Penny Stocks To Own Right Now: Sirius XM Radio Inc.(SIRI)

Advisors' Opinion:

• [By Rick Munarriz]

  One of the market's most unlikely success stories over the past decade could be cooling down. Sirius XM Holdings (NASDAQ:SIRI) hit a 12-year-high on Monday, only to trade lower on Tuesday following an analyst downgrade. 

• [By Motley Fool Staff]

  In this segment from MarketFoolery, host Chris Hill, Motley Fool One's Jason Moser, and Stock Advisor Canada's Taylor Muckerman consider an individual case of a common question for investors: When you have a stock that has become a big winner, should you hold on tight until you need the money, or sell to lock in some profits, and reinvest them elsewhere? There's certainly no single right answer, but the question is always a good one to ask. The response depends on the context of the individual company, so the Fools tailor their take this time to the outlook for Sirius XM (NASDAQ:SIRI).

• [By Trey Thoelcke]

  And short sellers may be keeping an eye on two of their favorite stocks in the days ahead. That's because Sirius XM Holdings Inc. (NASDAQ: SIRI) has been pulling back from a multiyear high back in June and Advanced Micro Devices Inc. (NASDAQ: AMD) is retreating from an even more recent multiyear high. Note that both of these are among the most shorted stocks traded on the Nasdaq.

• [By Rick Munarriz]

  Shares of Sirius XM Holdings (NASDAQ:SIRI) hit a new 12-year high of $7.08 this week, and in terms of market cap the satellite radio provider has never been as valuable as it is right now. The market darling hasn't traded this high since late 2005, and it's fair to say that this was an entirely different company back then. Sirius had yet to merge with XM. The share count was substantially lower. 

• [By ]

  Berkshire's biggest winners in the stock market so far this year are MasterCard Inc. (MA) , up 23%; Sirius XM Holdings Inc. (SIRI) , up 18%; Phillips 66 (PSX) , up 14%; Visa Inc. (V) , up 11%; and Moody's Corp. (MCO) , also up 11%, according to FactSet.

• [By Rick Munarriz]

  The market didn't exactly jump for joy with Sirius XM Holdings (NASDAQ:SIRI) following its first-quarter results on Wednesday. Revenue rose 6.3% to hit $1.375 billion, in line with analyst expectations but the satellite radio provider's weakest top-line growth since 2011. Free cash flow, operating cash flow, and earnings grew even faster, up 31%, 34%, and 40%, respectively. Sirius XM's profit of $0.06 a share did beat Wall Street's bottom-line target.  

Top 10 Penny Stocks To Own Right Now: Books-A-Million Inc.(BAMM)

Advisors' Opinion:

• [By Joseph Griffin]

  News articles about Books-A-Million (NASDAQ:BAMM) have trended positive recently, according to Accern. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Books-A-Million earned a coverage optimism score of 0.27 on Accern’s scale. Accern also gave news articles about the specialty retailer an impact score of 44.3915244007427 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

Top 10 Penny Stocks To Own Right Now: Patni Computer Systems Limited(PTI)

Advisors' Opinion:

• [By Chris Lange]

  Proteostasis Therapeutics Inc. (NASDAQ: PTI) saw its shares slide early on Thursday after the company reported that it had positive data from its early stage trial in cystic fibrosis (CF). These results come from the firm's ongoing Phase 1 dosing study of PTI-801 in CF patients on background Orkambi (lumacaftor/ivacaftor) therapy.

Top 10 Penny Stocks To Own Right Now: Orchids Paper Products Company(TIS)

Advisors' Opinion:

• [By Money Morning Staff Reports]

  Last week's top performing penny stock, Orchids Paper Products Co. (NYSE: TIS), jumped over 218% after the company delivered a stellar earnings reports on Aug. 13.

• [By Money Morning Staff Reports]

  After looking at last week's top-performing penny stocks, we'll show you a penny stock on the verge of jumping over 159%…

  Penny Stock Current Share Price Last Week's Gain My Size Inc. (NASDAQ: MYSZ) $1.19 60.71% Delcath Systems Inc. (OTCMKTS: DCTH) $3.21 52.38% Regional Health Properties Inc. (NYSE: RHE) $0.18 49.39% Nemaura Medical Inc. (NASDAQ: NMRD) $3.03 44.89% 3Pea International Inc. (NASDAQ: TPNL) $4.62 42.24% PLx Pharma Inc. (NASDAQ: PLXP) $4.22 34.38% Orchids Paper Products Co. (NYSE: TIS) $3.99 34.30% DelMar Pharmaceuticals Inc. (NASDAQ: DMPI) $0.74 33.41% Restoration Robotics Inc. (NASDAQ: HAIR) $3.08 32.74% Renren Inc. (NYSE: RENN) $1.69 32.61%

  Don't Miss Out: The Treasury is sitting on an $11.1 billion cash pile, and a loophole entitles Americans to a sizable portion. Some are collecting $1,795, $3,000, or $5,000 every month thanks to this powerful investment…

• [By Lisa Levin] Gainers SemiLEDs Corporation (NASDAQ: LEDS) shares rose 35.8 percent to $4.55. EVINE Live Inc. (NASDAQ: EVLV) gained 28.8 percent to $1.04. The pay-TV home shopping company was named as a potential acquisition target by TechCrunch. According to the publication, Amazon.com, Inc. (NASDAQ: AMZN) is exploring ways of marketing its products and services to consumers beyond the internet. Sanmina Corp (NASDAQ: SANM) shares surged 19.1 percent to $33.00 as the company reported stronger-than-expected earnings for its second quarter on Monday. Heidrick & Struggles International, Inc. (NASDAQ: HSII) gained 14.9 percent to $37.22 as the company posted upbeat results for its first quarter. Santander Consumer USA Holdings Inc. (NYSE: SC) shares climbed 14 percent to $17.90 following upbeat quarterly earnings. Helix Energy Solutions Group, Inc. (NYSE: HLX) climbed 14 percent to $7.12 following strong quarterly results. Check-Cap Ltd. (NASDAQ: CHEK) gained 13.6 percent to $8.25. Atossa Genetics Inc. (NASDAQ: ATOS) rose 11.8 percent to $3.34. Atossa Genetics disclosed that it has Received positive interim review from the Independent Safety Committee in Phase 1 Topical endoxifen dose escalation study in men. Cadence Design Systems, Inc. (NASDAQ: CDNS) gained 11.6 percent to $40.99 after the company posted upbeat Q1 results and issued a strong Q2 forecast. Genprex, Inc. (NASDAQ: GNPX) climbed 11.2 percent to $4.9363. Mitel Networks Corporation (NASDAQ: MITL) rose 10.5 percent to $11.23 after the company agreed to be acquired by affiliates of Searchlight Capital Partners for $2.0 billion. Systemax Inc. (NYSE: SYX) rose 10.2 percent to $30.86. Sidoti & Co. upgraded Systemax from Neutral to Buy. Orchids Paper Products Company (NYSE: TIS) surged 9.2 percent to $7.13. Orchids Paper Products is expected to report its Q1 financial results on Wednesday, April 25, 2018. New Oriental Education & Technology Group Inc. (NYSE: EDU) rose
• [By Joseph Griffin]

  Orchids Paper Products (NYSEAMERICAN:TIS) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,241,555 shares, a drop of 14.0% from the August 15th total of 2,605,776 shares. Currently, 22.9% of the shares of the company are sold short. Based on an average daily volume of 967,446 shares, the short-interest ratio is presently 2.3 days.

• [By Lisa Levin] Gainers Check-Cap Ltd. (NASDAQ: CHEK) shares jumped 104.82 percent to close at $14.87 on Tuesday. EVINE Live Inc. (NASDAQ: EVLV) rose 31.25 percent to close at $1.06. The pay-TV home shopping company was named as a potential acquisition target by TechCrunch. According to the publication, Amazon.com, Inc. (NASDAQ: AMZN) is exploring ways of marketing its products and services to consumers beyond the internet. SemiLEDs Corporation (NASDAQ: LEDS) shares climbed 27.16 percent to close at $4.26 on Tuesday. Atossa Genetics Inc. (NASDAQ: ATOS) gained 27.09 percent to close at $3.80. Atossa Genetics disclosed that it has Received positive interim review from the Independent Safety Committee in Phase 1 Topical endoxifen dose escalation study in men. Heidrick & Struggles International, Inc. (NASDAQ: HSII) surged 17.13 percent to close at $37.95 as the company posted upbeat results for its first quarter. Santander Consumer USA Holdings Inc. (NYSE: SC) shares gained 15.91 percent to close at $18.21 following upbeat quarterly earnings. Riot Blockchain, Inc. (NASDAQ: RIOT) shares jumped 15.73 percent to close at $7.58 on Tuesday after declining 1.50 percent on Monday. Sanmina Corp (NASDAQ: SANM) shares gained 14.62 percent to close at $31.75 as the company reported stronger-than-expected earnings for its second quarter on Monday. Orchids Paper Products Company (NYSE: TIS) jumped 12.86 percent to close at $7.37. Orchids Paper Products is expected to report its Q1 financial results on Wednesday, April 25, 2018. Helix Energy Solutions Group, Inc. (NYSE: HLX) rose 12.8 percent to close at $7.05 following strong quarterly results. Avid Bioservices, Inc. (NASDAQ: CDMO) rose 12.72 percent to close at $3.81. Genprex, Inc. (NASDAQ: GNPX) gained 12.61 percent to close at $5.00. Obalon Therapeutics, Inc. (NASDAQ: OBLN) rose 12.39 percent to close at $3.72. NextDecade Corporation (NASDAQ: NEXT) shares climbed 11.88 percent to close at $7
• [By Paul Ausick]

  Orchids Paper Products Co. (NYSEAMERICAN: TIS) dropped more than 12% Monday to set a new 52-week low of $0.70. Shares closed at $0.80 on Friday and the stock’s 52-week high is $15.47. Volume totaled around 15 million, about 60 times the daily average of around 250,000. The company had no specific news. Shares have made a massive comeback and are on track to close at $2.47, up more than 200%.

Top 10 Penny Stocks To Own Right Now: Aerosonic Corporation(AIM)

Advisors' Opinion:

• [By Logan Wallace]

  Shares of Aimia Inc (TSE:AIM) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$3.54.

• [By Shane Hupp]

  Aimia (TSE:AIM) has earned an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$2.67.

Top 10 Penny Stocks To Own Right Now: Xinyuan Real Estate Co Ltd(XIN)

Advisors' Opinion:

• [By Shane Hupp]

  Xinyuan Real Estate Co., Ltd. (NYSE:XIN) declared a quarterly dividend on Wednesday, May 30th, RTT News reports. Stockholders of record on Monday, June 11th will be given a dividend of 0.05 per share by the financial services provider on Friday, June 22nd. This represents a $0.20 annualized dividend and a dividend yield of 3.74%.

• [By Ethan Ryder]

  Mixin (XIN) is a proof-of-stake (PoS) token that uses the SHA256 hashing algorithm. It launched on October 2nd, 2017. Mixin’s total supply is 1,000,000 tokens and its circulating supply is 438,115 tokens. Mixin’s official message board is mixin.one/logs. Mixin’s official Twitter account is @XIN_Foundation and its Facebook page is accessible here. The official website for Mixin is mixin.one.

• [By Motley Fool Transcribers]

  Xinyuan Real Estate Co., Ltd.  (NYSE:XIN)Q4 2018 Earnings Conference CallFeb. 15, 2019, 8:00 a.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

Top 10 Penny Stocks To Own Right Now: Information Services Group Inc.(III)

Advisors' Opinion:

• [By Logan Wallace]

  CGI Group (NYSE: GIB) and Information Services Group (NASDAQ:III) are both computer and technology companies, but which is the better investment? We will contrast the two companies based on the strength of their profitability, earnings, dividends, analyst recommendations, risk, valuation and institutional ownership.

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on Information Services Group, Inc. Common Stock (III)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on Information Services Group, Inc. Common Stock (III)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Joseph Griffin]

  RMR Group (NASDAQ: RMR) and Information Services Group (NASDAQ:III) are both finance companies, but which is the better investment? We will compare the two companies based on the strength of their analyst recommendations, risk, profitability, dividends, valuation, institutional ownership and earnings.

• [By Logan Wallace]

  Martingale Asset Management L P bought a new position in Information Services Group, Inc. Common Stock (NASDAQ:III) during the second quarter, Holdings Channel reports. The fund bought 110,416 shares of the business services provider’s stock, valued at approximately $453,000.

Top 10 Penny Stocks To Own Right Now: Rocky Mountain Chocolate Factory Inc.(RMCF)

Advisors' Opinion:

• [By Max Byerly]

  Rocky Mountain Chocolate Factory (NASDAQ: RMCF) and Tootsie Roll Industries (NYSE:TR) are both small-cap retail/wholesale companies, but which is the better investment? We will compare the two companies based on the strength of their risk, valuation, dividends, analyst recommendations, earnings, profitability and institutional ownership.

• [By Ethan Ryder]

  Rocky Mountain Chocolate Factory (NASDAQ: RMCF) and Tootsie Roll Industries (NYSE:TR) are both small-cap retail/wholesale companies, but which is the better stock? We will contrast the two companies based on the strength of their valuation, risk, earnings, institutional ownership, profitability, dividends and analyst recommendations.

One analyst pulled down the Q4 revenue growth rate for the entire S&P 500

A single Wall Street analyst is responsible for skewing the revenue picture of the whole stock market.

UBS analyst Brian Meredith slashed his fourth-quarter revenue estimate for Berkshire Hathaway on Tuesday, bringing the consensus forecast down to $48.4 billion from $63.5 billion for the Warren Buffett-led company, according to data provider Refinitiv.

Because of the drastic cut by Meredith and the size and influence of Berkshire Hathaway, the S&P 500's total blended revenue growth rate fell to 5.2 percent from 6.1 percent, dropping nearly a full percentage point. The blended rate takes into account companies that have already reported and estimates for those that haven't released their numbers. Berkshire Hathaway is the fifth-biggest company in the S&P 500 by market value.

According to Refinitiv, Meredith cut his estimate because of "the inclusion of mark-to-market losses." Berkshire Hathaway is scheduled to release its fourth-quarter results on Saturday morning.

Meredith's revenue cut also erased the financials sector's blended growth revenue rate. The consensus for revenue in financials is now for a decline of 3.2 percent from an expansion of 3.9 percent.

Subscribe to CNBC on YouTube.

Dupont Capital Management Corp Purchases Shares of 7,013 Chemical Financial Co. (CHFC)

Dupont Capital Management Corp purchased a new stake in Chemical Financial Co. (NASDAQ:CHFC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,013 shares of the bank’s stock, valued at approximately $257,000.

Several other hedge funds also recently modified their holdings of CHFC. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Chemical Financial by 36.0% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 258,103 shares of the bank’s stock worth $9,449,000 after acquiring an additional 68,371 shares during the period. Rhumbline Advisers grew its holdings in Chemical Financial by 63.1% during the 4th quarter. Rhumbline Advisers now owns 219,532 shares of the bank’s stock worth $8,037,000 after acquiring an additional 84,972 shares during the period. Advisors Asset Management Inc. grew its holdings in Chemical Financial by 22.7% during the 4th quarter. Advisors Asset Management Inc. now owns 19,698 shares of the bank’s stock worth $721,000 after acquiring an additional 3,639 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Chemical Financial by 16.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 11,795 shares of the bank’s stock worth $432,000 after acquiring an additional 1,700 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Chemical Financial by 24.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,658,834 shares of the bank’s stock worth $97,339,000 after acquiring an additional 529,790 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

Get Chemical Financial alerts:

A number of brokerages have weighed in on CHFC. Sandler O’Neill upgraded Chemical Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, February 8th. Zacks Investment Research cut shares of Chemical Financial from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Raymond James set a $55.00 price objective on shares of Chemical Financial and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Keefe, Bruyette & Woods raised shares of Chemical Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $59.00 in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Chemical Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $56.60.

CHFC stock opened at $46.81 on Wednesday. The stock has a market cap of $3.35 billion, a PE ratio of 11.88, a P/E/G ratio of 1.24 and a beta of 1.42. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. Chemical Financial Co. has a 1 year low of $34.62 and a 1 year high of $59.46.

Chemical Financial (NASDAQ:CHFC) last released its quarterly earnings data on Monday, January 28th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. The company had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $200.12 million. Chemical Financial had a net margin of 30.57% and a return on equity of 10.20%. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, sell-side analysts expect that Chemical Financial Co. will post 4.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.36 annualized dividend and a yield of 2.91%. Chemical Financial’s payout ratio is 34.52%.

TRADEMARK VIOLATION NOTICE: This report was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/4165742/dupont-capital-management-corp-purchases-shares-of-7013-chemical-financial-co-chfc.html.

Chemical Financial Company Profile

Chemical Financial Corporation operates as a financial holding company of Chemical Bank that offers banking and fiduciary products and services to residents and business customers. It offers business and personal checking accounts, savings and individual retirement accounts, time deposit instruments, electronically accessed banking products, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit box, money transfer, automated teller machines, insurance and investment products, corporate and personal wealth management, and mortgage banking and other banking services.

Recommended Story: Catch-Up Contributions

Zacks: Brokerages Anticipate Davita Inc (DVA) Will Announce Earnings of $1.00 Per Share

Brokerages expect that Davita Inc (NYSE:DVA) will report earnings per share (EPS) of $1.00 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Davita’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.16. Davita reported earnings per share of $1.05 in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is expected to report its next quarterly earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Davita will report full year earnings of $4.42 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $4.95. For the next year, analysts anticipate that the business will post earnings of $5.40 per share, with EPS estimates ranging from $4.59 to $6.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Davita.

Get Davita alerts:

Davita (NYSE:DVA) last posted its quarterly earnings data on Wednesday, February 13th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.97 billion. Davita had a net margin of 1.40% and a return on equity of 13.75%. Davita’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share.

A number of analysts have recently issued reports on DVA shares. Zacks Investment Research raised shares of Davita from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Robert W. Baird lowered their target price on shares of Davita from $90.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday. They noted that the move was a valuation call. Raymond James lowered shares of Davita from an “outperform” rating to a “market perform” rating and set a $63.44 target price for the company. in a research note on Sunday, December 2nd. Royal Bank of Canada boosted their target price on shares of Davita from $70.00 to $78.00 and gave the company a “sector perform” rating in a research note on Thursday, November 8th. Finally, TheStreet lowered shares of Davita from a “b-” rating to a “c+” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.92.

Institutional investors and hedge funds have recently modified their holdings of the company. CSat Investment Advisory L.P. boosted its stake in shares of Davita by 61.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 581 shares of the company’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Quantamental Technologies LLC purchased a new stake in Davita in the fourth quarter worth about $34,000. Oregon Public Employees Retirement Fund lifted its stake in Davita by 4,995.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,880,451 shares of the company’s stock worth $37,000 after acquiring an additional 1,843,544 shares during the period. Fort L.P. purchased a new stake in Davita in the fourth quarter worth about $76,000. Finally, Dupont Capital Management Corp lifted its stake in Davita by 41.0% in the fourth quarter. Dupont Capital Management Corp now owns 2,525 shares of the company’s stock worth $130,000 after acquiring an additional 734 shares during the period. 85.99% of the stock is owned by hedge funds and other institutional investors.

NYSE DVA traded up $0.04 on Thursday, hitting $59.14. 1,722,104 shares of the stock were exchanged, compared to its average volume of 1,680,422. The company has a quick ratio of 1.82, a current ratio of 1.84 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.59 and a beta of 1.31. Davita has a 52-week low of $48.25 and a 52-week high of $79.11.

About Davita

DaVita Inc provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also provides outpatient, hospital inpatient, and home-based hemodialysis services; owns clinical laboratories that provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients; and management and administrative services to outpatient dialysis centers.

Recommended Story: Why do earnings reports matter?

Get a free copy of the Zacks research report on Davita (DVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Flipping a House? Here's What You Should Worry About

Countless television shows glamorize the concept of flipping a house. They make it appear relatively easy to find a property that's priced well below its market value due to it needing extensive repairs. If you're handy and can paint, it seems like profits are just there for the taking.

There are even seminars on house flipping (sometimes offered by the stars of the above-mentioned shows), all designed to sell you on the idea that house flipping requires hard work but could be a path to getting rich. It can be, of course, but the reality is that house flipping comes with a lot of risks.

You only make money on a flip when purchase price plus renovation costs comes out to less than you sell the house for. It's possible to do that in some cases, but unexpected costs, changing markets, or an inability to find a buyer can turn profits into losses.

Flipping usually involves extensive repairs and renovation. Image source: Getty Images.

How flipping works

Before you can flip a house, you need to purchase one. That requires capital. 41.6% of flippers use savings from their primary source of income as their funding source according to data from a new Porch.com survey, followed by 30% who take out bank loans, 8.6% who use an inheritance or one-time windfall, 6.2% who borrow from family, and another 6.2% who borrow from a private lender.

In most cases, that means that flippers are putting their financial health on the line, risking either their savings or their credit. That's a bigger risk than it used to be when flipping was largely an activity conducted by professionals with considerable building experience. Today the prevalence of side hustle flippers -- people who are not professional housing contractors -- has increased risk. The presence of more flippers in a market can drive up the price of homes that can be flipped, lowering profit margins and removing margin for error.

Image source: Porch.com.

As you can see from the chart above, underestimating the cost was cited more than any other flipping mistake at 63.5%. That's something that's actually shown quite often on the various flipping shows.

In general, people underestimate the cost or don't budget enough for repairs because there's something wrong that can't be seen until work begins. It might be a huge plumbing problem, asbestos, structural defects, or a host of other things. Flippers can also lose money if the market does not support the price they intend to sell at, or if a renovated home takes too long to sell.

"With extra costs hiding in renovations, these monetary mistakes are likely rooted in construction and design," according to the Porch.com report. "By location, most mistakes were made in the kitchen, which also happens to be the most common room to remodel. Ordering or installing the wrong countertops or cabinets was the biggest mishap for that room, followed by getting the wrong fixtures or materials for the bathroom."

Not for everyone

Just because it's possible to make money flipping houses does not mean everyone, or even most people, should try it. In reality, flipping is dangerous: In many cases, houses are bought without inspections, and sometimes without the buyer even being able to see the interior. Even if you can fully inspect the home, a lot can still go wrong. This isn't a space where amateurs should expect to make money as a sideline.

Buy Voltas, target Rs 680: Anand Rathi

Anand Rathi

Voltas being a strong brand in the room air conditioner (RAC) segment has maintained its market leadership position in India despite rising competition.

With a commanding Q2 FY19 25.6% market share, Voltas is number one in room A/Cs. It has the widest range of inverter A/Cs, well equipping it to cater to the rising shift (40% of split AC sales).

The immediate addressable is inventory liquidation; at end-Q2 FY19 it sat on 2.5 months of sales. We are hopeful as efforts are underway.

Voltas, having the largest distribution network (15,000+ touch points) among pure A/C players, and Beko's comprehensive product range are expected to be a favourable combination, aiding growth prospects.

related news Buy Sundram Fasteners, target Rs 760: Anand Rathi Voltas Consolidated December 2018 Net Sales at Rs 1,491.78 crore, up 8.52% Y-o-Y

The Rs 1.64 billion H1 FY19 EMP EBIT (Rs 655m a year ago) reflected a 390bp margin expansion to 9.3%, backed by strong, 45%, revenue growth to Rs 17.68 billion. Margin expansion is attributable to superior project selection and astute execution.

Improving operations combined with a healthy (and geographically diversified) order book of Rs 48.83 billion, offers ample assurance for the next two years.

With continuous improvement in operating performance, we expect a healthy up side in the near-term too. We continue to maintain Buy with target price of Rs 680.

The Joint Venture Company, Voltbek, will be launching new products in refrigerators, washing machines, micro waves and other white goods/domestic appliances under the brand name of Voltas-Beko. There will be a capacity of 1 mn refrigerators and washing machines and 0.5mn micro wave ovens.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Feb 16, 2019 09:50 am

Hot Bank Stocks For 2019

tags:OFG,RILY,ATO,

Investment company Mount Vernon Associates Inc buys Delta Air Lines, sells Johnson Controls International PLC, Alcoa, eBay during the 3-months ended 2017-03-31, according to the most recent filings of the investment company, Mount Vernon Associates Inc . As of 2017-03-31, Mount Vernon Associates Inc owns 52 stocks with a total value of $53 million. These are the details of the buys and sells.

New Purchases: DAL, Added Positions: MSFT, BAC, C, AXP, GOOG, AIG, AMZN, JPM, PFE, TKOI, Reduced Positions: AAPL, MBI, COF, WYN, TSCO, TXN, TEVA, ETP, IBM, GNW, Sold Out: JCI, AA, EBAY,

For the details of MOUNT VERNON ASSOCIATES INC 's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=MOUNT+VERNON+ASSOCIATES+INC+

These are the top 5 holdings of MOUNT VERNON ASSOCIATES INC Apple Inc (AAPL) - 28,412 shares, 7.69% of the total portfolio. Shares reduced by 1.73%JPMorgan Chase & Co (JPM) - 26,938 shares, 4.45% of the total portfolio. Shares added by 1.13%Amazon.com Inc (AMZN) - 2,660 shares, 4.44% of the total portfolio. Shares added by 1.33%Costco Wholesale Corp (COST) - 13,005 shares, 4.11% of the total portfolio. Shares reduced by 0.38%Bank of America Corporation (BAC) - 86,854 shares, 3.86% of the total portfolio. Shares added by 8.43%New Purchase: Delta Air Lines Inc (DAL)

Mount Vernon Associates Inc initiated holdings in Delta Air Lines Inc. The purchase prices were between $45.52 and $51.44, with an estimated average price of $48.82. The stock is now traded at around $45.08. The impact to the portfolio due to this purchase was 2.61%. The holdings were 30,150 shares as of 2017-03-31.

Hot Bank Stocks For 2019: Oriental Financial Group Inc.(OFG)

Advisors' Opinion:

• [By Joseph Griffin]

  OFG Bancorp (NYSE:OFG) shares reached a new 52-week high and low during trading on Tuesday . The company traded as low as $14.35 and last traded at $13.92, with a volume of 109869 shares changing hands. The stock had previously closed at $13.95.

• [By Ethan Ryder]

  OFG Bancorp (NYSE:OFG) will release its earnings data before the market opens on Friday, July 20th. Analysts expect OFG Bancorp to post earnings of $0.23 per share for the quarter.

• [By Logan Wallace]

  Bank of Marin Bancorp (NASDAQ: BMRC) and OFG Bancorp (NYSE:OFG) are both small-cap finance companies, but which is the better business? We will compare the two companies based on the strength of their risk, valuation, analyst recommendations, institutional ownership, profitability, dividends and earnings.

• [By Stephan Byrd]

  Farmers National Banc (NASDAQ:FMNB) and OFG Bancorp (NYSE:OFG) are both small-cap finance companies, but which is the superior business? We will contrast the two businesses based on the strength of their profitability, risk, earnings, dividends, valuation, analyst recommendations and institutional ownership.

• [By Joseph Griffin]

  Engineers Gate Manager LP increased its stake in shares of OFG Bancorp (NYSE:OFG) by 62.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,455 shares of the bank’s stock after buying an additional 29,451 shares during the period. Engineers Gate Manager LP’s holdings in OFG Bancorp were worth $799,000 at the end of the most recent quarter.

• [By Joseph Griffin]

  Stevens Capital Management LP purchased a new stake in shares of OFG Bancorp (NYSE:OFG) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,250 shares of the bank’s stock, valued at approximately $170,000.

Hot Bank Stocks For 2019: B. Riley Financial, Inc.(RILY)

Advisors' Opinion:

• [By Stephan Byrd]

  Broadridge Financial Solutions (NYSE: BR) and B. Riley Financial (NASDAQ:RILY) are both business services companies, but which is the better business? We will contrast the two businesses based on the strength of their risk, valuation, profitability, earnings, analyst recommendations, institutional ownership and dividends.

• [By WWW.GURUFOCUS.COM]

  For the details of Standard General L.P.'s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Standard+General+L.P.

  These are the top 5 holdings of Standard General L.P.National CineMedia Inc (NCMI) - 12,576,000 shares, 60.53% of the total portfolio. New PositionTime Inc (TIME) - 3,181,424 shares, 29.62% of the total portfolio. Turning Point Brands Inc (TPB) - 305,319 shares, 3.58% of the total portfolio. Shares added by 189.90%CafePress Inc (PRSS) - 2,500,000 shares, 3.12% of the total portfolio. New PositionB. Riley Financial Inc (RILY) - 167,736 shares, 1.97% of the total portfoli

Hot Bank Stocks For 2019: Atmos Energy Corporation(ATO)

Advisors' Opinion:

• [By Reuben Gregg Brewer]

  Utility stocks are generally considered conservative investments that reward shareholders over the long term with sizable dividends that grow slowly and steadily over time. With the S&P 500 Index's yield hovering around 2%, the bar for yield is set pretty low today. That said, investors should think twice before jumping at utilities like UGI Corporation (NYSE:UGI), Atmos Energy Corporation (NYSE:ATO), and MGE Energy, Inc. (NASDAQ:MGEE), which offer little if any yield advantage over an S&P 500 Index fund.

• [By Shane Hupp]

  Natixis lifted its stake in shares of Atmos Energy Co. (NYSE:ATO) by 577.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,027 shares of the utilities provider’s stock after buying an additional 150,051 shares during the quarter. Natixis owned about 0.16% of Atmos Energy worth $15,867,000 as of its most recent filing with the Securities & Exchange Commission.

• [By Shane Hupp]

  Trust Co. of Vermont cut its stake in shares of Atmos Energy Co. (NYSE:ATO) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,428 shares of the utilities provider’s stock after selling 898 shares during the period. Trust Co. of Vermont’s holdings in Atmos Energy were worth $2,900,000 at the end of the most recent quarter.

• [By Motley Fool Transcribing]

  Atmos Energy (NYSE:ATO) Q1 2019 Earnings Conference CallFeb. 6, 2019 8:00 a.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

• [By Logan Wallace]

  Atmos Energy Co. (NYSE:ATO) – Research analysts at Seaport Global Securities decreased their Q4 2018 earnings per share estimates for shares of Atmos Energy in a report issued on Monday, August 13th. Seaport Global Securities analyst M. Levin now forecasts that the utilities provider will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.38.

Vericel Corp (VCEL) Stake Increased by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC grew its position in Vericel Corp (NASDAQ:VCEL) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,372 shares of the biotechnology company’s stock after buying an additional 3,048 shares during the period. Essex Investment Management Co. LLC owned 0.36% of Vericel worth $2,738,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of Vericel by 17.1% in the 3rd quarter. Legal & General Group Plc now owns 6,443 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 943 shares during the last quarter. Meeder Asset Management Inc. raised its position in Vericel by 28.7% during the 4th quarter. Meeder Asset Management Inc. now owns 5,765 shares of the biotechnology company’s stock worth $100,000 after buying an additional 1,284 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Vericel during the 4th quarter worth approximately $44,000. Financial Architects Inc purchased a new position in Vericel during the 4th quarter worth approximately $69,000. Finally, American International Group Inc. raised its position in Vericel by 18.6% during the 3rd quarter. American International Group Inc. now owns 28,505 shares of the biotechnology company’s stock worth $403,000 after buying an additional 4,474 shares during the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.

Get Vericel alerts:

In related news, CFO Gerard J. Michel sold 10,000 shares of Vericel stock in a transaction on Monday, February 11th. The shares were sold at an average price of $17.09, for a total value of $170,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven C. Gilman sold 8,500 shares of Vericel stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $17.75, for a total transaction of $150,875.00. Following the completion of the sale, the director now directly owns 8,500 shares in the company, valued at approximately $150,875. The disclosure for this sale can be found here. Insiders sold a total of 65,336 shares of company stock worth $1,112,761 in the last three months. 4.70% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on VCEL. BidaskClub raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Needham & Company LLC lifted their target price on shares of Vericel to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. BTIG Research lifted their target price on shares of Vericel from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. Finally, Oppenheimer began coverage on shares of Vericel in a report on Tuesday, January 29th. They set an “outperform” rating and a $23.00 target price for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.00.

Vericel stock opened at $19.21 on Friday. Vericel Corp has a 1 year low of $6.80 and a 1 year high of $19.24. The firm has a market capitalization of $785.45 million, a P/E ratio of -38.42 and a beta of 2.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.71 and a current ratio of 7.96.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/4154611/vericel-corp-vcel-stake-increased-by-essex-investment-management-co-llc.html.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.

Read More: Why do companies issue convertible shares?

Quantifying Immigration's Impact on Social Security

Few, if any, social programs pack a punch for the American public quite like Social Security. This is a program that provides a benefit check to nearly 63 million people each month, 7 out of 10 of whom are retired workers. Of these retirees, 62% lean on their monthly payout to account for at least half of their income. In other words, without Social Security in place, we'd likely be staring down a serious elderly poverty problem.

Social Security's Judgment Day is rapidly approaching

Then again, it's also a program that's on thin ice. Beginning sometime in the very near future, Social Security is expected to expend more than it collects in revenue for the first time since 1982, the year prior to the Reagan administration passing the last major overhaul of the program.

Image source: Getty Images.

What could cause such a reversal of fortune for Social Security? Part of the blame, through no fault of their own for simply being born, is that baby boomers are leaving the workforce at a faster rate than new workers can replace them, leading to a decline in the worker-to-beneficiary ratio. Other factors at fault include increased longevity over many decades, growing income inequality, and lower fertility rates.

If there are consolations here for existing and future beneficiaries, it's that the program is in no danger of going belly-up, and it does have almost $2.9 trillion in asset reserves built up since inception. The problem is that these asset reserves can only hold up for so long if Social Security is spending more than it's collecting each year. That's why the latest Trustees report has projected that the entirety of this excess capital will be exhausted 15 years from now, in 2034. Should Congress fail to amend the program in order to generate additional revenue, a sweeping cut to benefits of up to 21% may be needed to sustain payouts through 2092.

Immigration is a net positive for Social Security

However, the factors listed above aren't the only things influencing Social Security. Immigration tends to play a very large role as well. In fact, immigration and its impact on the program might be one of the most misunderstood aspects of Social Security.

When the Trustees release their annual report looking at the short-term (10-year) and long-term (75-year) outlook for Social Security, one of the key factors examined is the immigration rate. Immigration is itself a net positive for the Social Security program. That's because a majority of legal immigrants tend to be younger in age, meaning they're going to be a part of the American workforce for decades before retiring. These immigrating workers, and the payroll tax revenue they'll provide, are very much needed to help support payouts to current and future generations of retirees.

Image source: Getty Images.

Meanwhile, undocumented immigrants aren't allowed to receive benefits since they have no legal pathway to receiving a Social Security number (SSN). That doesn't stop some undocumented workers from using a fake SSN or a friend's SSN to get a job, ultimately paying billions of dollars into the system annually without any chance to ever collect a red cent in return.

Though the immigration debate is contentious, there's little doubt that immigration is having a positive outcome on Social Security.

Quantifying the impact of immigration on Social Security

The bigger question, I believe, has always been just how much of an impact is immigration having on Social Security, in dollar terms. The Trustees report provides a roundabout answer to that question.

Each year, the Trustees report examines the 25-year, 50-year, and 75-year actuarial balance based on three levels of average annual net immigration. In the 2018 report, these were 952,000 persons, 1,272,000 persons, and 1,607,000 persons. Regardless of the time period (25, 50, or 75 years), the actuarial balance -- i.e., the amount Congress would need to raise the current 12.4% payroll tax rate today to fully cover the projected cash shortfall over a defined number of years (in this case 25, 50, or 75 years) -- decreases as average annual net immigration increases. Over the long run, the report notes that for every 100,000-person net increase in average annual immigration, the long-term actuarial deficit drops by about 0.08%. The opposite is true if net immigration declines over time. 

Image source: Getty Images.

To put this in an easier-to-understand context, the long-term (75-year) actuarial deficit in 2018 was 2.84%. This means that if the payroll tax were increased from 12.4% to 15.24% (2.84% higher), it would presumably eliminate the $13.2 trillion cash shortfall currently projected between 2034 and 2092. But if, for example, net immigration into the U.S. were doubled to roughly 2.5 million people annually, it would lower the long-term actuarial deficit by about 1%. This would, presumably, lower the program's long-term cash shortfall by trillions of dollars.

In today's dollars, 0.08% of taxable earnings probably doesn't sound like a lot. But for each 100,000-person increase in net immigration, it would result in approximately $5.6 billion in added payroll tax revenue for the program, per year. That's given the assumption that roughly $7.05 trillion in earned income was subject to the payroll tax in 2017, as evidenced by the $873.6 billion in collected payroll tax revenue. That's not chump change, and it's certainly something to keep in mind as the immigration debate rages on.

Top 10 Gold Stocks To Buy Right Now

tags:NGD,CME,NXG,GSS,ORE,

Goldman Sachs strategist David Kostin and team note that stocks with high operating leverage–Amazon.com (AMZN), Whole Foods Market (WFM), ConocoPhillips (COP), Yahoo! (YHOO), and FedEx (FDX) among them–will outperform if the U.S. economy strengthens:

Client discussions this week focused on economic growth, operating leverage, and wage inflation. The Goldman Sachs Economics US Current Activity Indicator (CAI) is a proxy for real-time GDP growth and the metric has slowed to 1.3%. Our economics colleagues expect GDP growth will accelerate to a 3.2% pace in 2Q and average 2.3% during 2H 2016. Companies with the highest operating leverage stand to benefit most from accelerating GDP growth and the associated pickup in sales growth. Conversely, investors who fear the economy is decelerating and view last week's dismal 38K jobs report as a harbinger of weakening activity should own stocks with the lowest degree of operating leverage.

A company with a high degree of operating leverage has high fixed costs relative to variable costs. We calculate each company's degree of operating leverage (DOL) as the ratio of revenue after variable operating costs to revenue after variable and fixed operating costs [DOL = (Sales – COGS) / (Sales – COGS – SGA – Depreciation)]. Operating leverage has trended down since 1990, but recently has risen to the long-term average…

Top 10 Gold Stocks To Buy Right Now: NEW GOLD INC.(NGD)

Advisors' Opinion:

• [By Matthew DiLallo]

  Shares of New Gold (NYSEMKT:NGD) sold off on Thursday, plunging more than 20% by 11 a.m. EST after the gold mining company reported its fourth-quarter results as well as its outlook for 2019.

• [By Lisa Levin] Gainers ARMO BioSciences, Inc. (NASDAQ: ARMO) shares rose 67.5 percent to $49.96 in pre-market trading after Eli Lilly and Company (NYSE: LLY) announced plans to acquire ARMO BioSciences for $50 per share. Turtle Beach Corporation (NASDAQ: HEAR) rose 62.8 percent to $11.30 in pre-market trading after the company reported Q1 results and raised its FY18 outlook. vTv Therapeutics Inc. (NASDAQ: VTVT) rose 23.4 percent to $2.11 in pre-market trading following announcement that the company will pre-specify new subgroup with the FDA and report Phase 3 Part B results in June. Resonant Inc. (NASDAQ: RESN) rose 19.1 percent to $5.00 in pre-market trading after reporting Q1 results. RXi Pharmaceuticals Corporation (NASDAQ: RXII) rose 17.7 percent to $2.39 in pre-market trading following Q1 results. Clean Energy Fuels Corp. (NASDAQ: CLNE) rose 15.2 percent to $2.20 in pre-market trading after French company Total announced plans to acquire 25 percent stake in Clean Energy Fuels for $83.4 million. Everspin Technologies, Inc. (NASDAQ: MRAM) rose 14.6 percent to $8.50 in pre-market trading after the company reported strong results for its first quarter. Carvana Co. (NYSE: CVNA) shares rose 11 percent to $27.50 in pre-market trading after reporting upbeat Q1 sales. Sunrun Inc. (NASDAQ: RUN) rose 8.9 percent to $10.70 in pre-market trading following upbeat quarterly earnings. MediciNova, Inc. (NASDAQ: MNOV) rose 8.1 percent to $11.35 in pre-market trading after the company announced opening of Investigational New Drug Application for MN-166 (ibudilast) in glioblastoma. New Gold Inc. (NYSE: NGD) shares rose 7.7 percent to $2.65 in pre-market trading after the company reported that its President and CEO Hannes Portmann left the company. The company named Raymond Threlkeld as successor. Otter Tail Corporation (NASDAQ: OTTR) shares rose 7.4 percent to $46.60 in the pre-market trading session. Himax Technologies, Inc. (NASDAQ: HIMX) shares rose
• [By WWW.GURUFOCUS.COM]

  For the details of Exor Investments (UK) LLP's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Exor+Investments+%28UK%29+LLP

  These are the top 5 holdings of Exor Investments (UK) LLPSibanye-Stillwater (SBGL) - 45,970,311 shares, 32.51% of the total portfolio. Shares added by 8.09%VEON Ltd (VEON) - 37,657,792 shares, 31.02% of the total portfolio. Shares added by 3.83%Cameco Corp (CCJ) - 5,967,410 shares, 19.32% of the total portfolio. Harmony Gold Mining Co Ltd (HMY) - 13,275,728 shares, 6.26% of the total portfolio. Shares added by 6.84%Novagold Resources Inc (NG) - 5,889,905 shares, 6.21% of the total portfolio. Shares
• [By Ethan Ryder]

  Commerzbank Aktiengesellschaft FI raised its holdings in shares of New Gold Inc (Pre-Merger) (NYSEAMERICAN:NGD) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,015,289 shares of the basic materials company’s stock after buying an additional 101,852 shares during the period. Commerzbank Aktiengesellschaft FI owned about 0.35% of New Gold Inc (Pre-Merger) worth $4,192,000 at the end of the most recent reporting period.

• [By Paul Ausick]

  New Gold Inc. (NYSEAMERICAN: NGD) dropped about 2.9% Monday to post a new 52-week low of $2.35. Shares closed at $2.42 on Friday and the stock’s 52-week high is $4.25. Volume was about 10% below the daily average of around 5.8 million shares. The gold mining company had no news.

• [By Paul Ausick]

  New Gold Inc. (NYSEAMERICAN: NGD) dropped about 3.8% Thursday to post a new 52-week low of $2.28. Shares closed at $2.37 on Wednesday and the stock’s 52-week high is $4.25. Volume was about 15% below the daily average of around 5.9 million shares. The company had no specific news.

Top 10 Gold Stocks To Buy Right Now: CME Group Inc.(CME)

Advisors' Opinion:

• [By Logan Wallace]

  Investors sold shares of CME Group Inc (NASDAQ:CME) on strength during trading hours on Wednesday. $43.03 million flowed into the stock on the tick-up and $84.28 million flowed out of the stock on the tick-down, for a money net flow of $41.25 million out of the stock. Of all stocks tracked, CME Group had the 11th highest net out-flow for the day. CME Group traded up $0.26 for the day and closed at $170.48

• [By Max Byerly]

  GAM Holding AG lifted its holdings in shares of CME Group Inc (NASDAQ:CME) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,502 shares of the financial services provider’s stock after acquiring an additional 2,300 shares during the quarter. GAM Holding AG’s holdings in CME Group were worth $2,377,000 as of its most recent SEC filing.

• [By ]

  My pick this week has created a faster, more centralized marketplace for bond traders... and it's led by a guy who once worked the trading floors of the Chicago Mercantile Exchange (CME). Better yet, recently passed regulations could force traders' hands in joining this new system. 

Top 10 Gold Stocks To Buy Right Now: Northgate Minerals Corporation(NXG)

Advisors' Opinion:

• [By Shane Hupp]

  Shares of NEX Group PLC (LON:NXG) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is GBX 696 ($9.21).

Top 10 Gold Stocks To Buy Right Now: Golden Star Resources Ltd(GSS)

Advisors' Opinion:

• [By Max Byerly]

  Get a free copy of the Zacks research report on Golden Star Resources (GSS)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Max Byerly]

  Get a free copy of the Zacks research report on Golden Star Resources (GSS)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Joseph Griffin]

  Golden Star Resources Ltd. (TSE:GSC) (NYSE:GSS) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$1.48.

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on Golden Star Resources (GSS)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Max Byerly]

  Golden Star Resources Ltd. (NYSEAMERICAN:GSS) was the target of a significant increase in short interest in September. As of September 28th, there was short interest totalling 10,021,831 shares, an increase of 6.9% from the September 14th total of 9,371,344 shares. Based on an average trading volume of 1,038,207 shares, the short-interest ratio is presently 9.7 days. Approximately 4.7% of the company’s shares are sold short.

Top 10 Gold Stocks To Buy Right Now: Orezone Gold Corp (ORE)

Advisors' Opinion:

• [By Stephan Byrd]

  Galactrum (CURRENCY:ORE) traded 1.7% lower against the U.S. dollar during the 24 hour period ending at 18:00 PM Eastern on August 31st. Galactrum has a total market capitalization of $866,847.00 and approximately $5,272.00 worth of Galactrum was traded on exchanges in the last 24 hours. One Galactrum coin can now be purchased for about $0.42 or 0.00006032 BTC on major exchanges including Stocks.Exchange and Cryptopia. In the last seven days, Galactrum has traded 12.5% higher against the U.S. dollar.

• [By Shane Hupp]

  Galactrum (ORE) is a PoW/PoS coin that uses the
  Lyra2RE hashing algorithm. It was first traded on December 13th, 2017. Galactrum’s total supply is 2,781,952 coins and its circulating supply is 2,061,952 coins. Galactrum’s official website is galactrum.org. Galactrum’s official Twitter account is @galactrum.

• [By Jim Robertson]

  Finally, Richard Seville, the CEO of Brisbane-based Orocobre Ltd (ASX: ORE) which began lithium sales in 2015 from northern Argentina and also experienced difficulty boosting output, commented that an "inability to access traditional funds has delayed the development of the sector" and that "these projects aren't easy -- so the banks just don't want to go there."

• [By Peter Graham]

  Sandstorm's due diligence is thorough, they don't just invest in any company. They like West Africa because they understand the area and the opportunities that exist there. Sandstorm is a royalty and streaming company, so they make these investments and receive cashflow deals that often kick in much later on. But they have already established a presence in Burkina and have deals in place with larger companies like Orezone Gold (TSXV: ORE) and Endeavour Mining (TSX: EDV). Sandstorm's investment also potentially gives us access to their marketing department through something they call Launch Lab, and it looks like it will really benefit our own marketing efforts and will expose us to more opportunities over the coming year.

• [By Stephan Byrd]

  Galactrum (ORE) is a PoW/PoS coin that uses the
  Lyra2RE hashing algorithm. It launched on November 11th, 2017. Galactrum’s total supply is 2,092,679 coins and its circulating supply is 1,372,679 coins. Galactrum’s official Twitter account is @galactrum. Galactrum’s official website is galactrum.org.

Why Zynga Stock Gained 14% in January

What happened

Shares of Zynga (NASDAQ:ZNGA) gained 14% in January, according to data from S&P Global Market Intelligence. Continued momentum from the company's successful turnaround combined with momentum in the stock market at large helped the stock post double-digit gains and reach a four-year high last month. 

ZNGA data by YCharts.

Excitement surrounding its fourth-quarter earnings release early in February and tracking for the company's key games showing strong engagement may also have factored into its January stock gains. 

Image source: Getty Images.

So what

The company's pivot away from a focus on launching new games in favor of getting the most out of established franchises like Zynga Poker, CSR Racing, and Words With Friends until sales and earnings performance improve has paid off. Zynga has managed to build a solid business around its core "forever franchises," and after supplementing its core catalog and development resources with a series of successful acquisitions and new deals, its business outlook is more promising than it has been in years.  

Now what

Zynga published fourth-quarter results after market close on Feb. 6, delivering results that came in ahead of the market's expectations and helped extend the stock's gains. Shares are up roughly 8% in February's trading so far. 

ZNGA data by YCharts.

Sales for the period climbed 7% year over year to reach $249 million, and operating cash flow climbed 241% year over year to come in at $90 million and record the company's best performance on that front since 2011. Zynga CEO Frank Gibeau has stated that the business's turnaround is now complete, and management projects that sales for 2019 will climb 27% annually to hit $1.15 billion. Shares trade at roughly 19 times this year's expected earnings. 

Star Bulk Carriers Corp (SBLK) Q4 2018 Earnings Conference Call Transcript

Image source: The Motley Fool.

Star Bulk Carriers Corp  (NASDAQ:SBLK)Q4 2018 Earnings Conference CallFeb. 12, 2019, 11:00 a.m. ET

Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

Operator

Thank you for standing by, ladies and gentlemen, and welcome to the Star Bulk Carriers Conference Call on the Fourth Quarter 2018 Financial Results. We have with us Mr. Petros Pappas, Chief Executive Officer; Mr. Hamish Norton, President; Mr. Simos Spyrou and Mr. Christos Begleris, Co-Chief Financial Officers of the Company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. (Operator Instructions) I must advise you that this conference is being recorded today.

We now pass the floor to one of your speakers today, Mr. Begleris. Please go ahead, sir.

Christos Begleris -- Co-Chief Financial Officer

Thank you, operator. I'm Christos Begleris, Co-Chief Financial Officer of Star Bulk Carriers, and I would like to welcome you to the Star Bulk Carriers conference call regarding our financial results for the fourth quarter and full year of 2018. Before we begin, I kindly ask you to take a moment to read the Safe Harbor Statement on Slide Number 2 of our presentation. Let us now turn to Slide Number 3 of the presentation for a summary of our fourth quarter 2018 financial highlights. In the three months ending December 31, 2018 TCE revenues amounted to $137.8 million, 53.1% higher than the $90 million for the same period in 2017. Adjusted EBITDA for the fourth quarter 2018 was $82.4 million versus $55.7 million in the fourth quarter of 2017. Adjusted net income for the fourth quarter of 2018 amounted to $30.3 million or $0.33 gain per share versus $21.5 million or $0.34 gain per share in the fourth quarter of 2017. This is our fifth consecutive profitable quarter.

Our Time Charter Equivalent Rate during this quarter was $14,140 per day compared to $13,860 per day in the same quarter last year. During Q4 2018, our average daily operating expenses were at $3,938 per vessel per day. During this quarter, we concluded the refinancing of $248 million reducing the average margin of these facilities by 120 basis points. We remain committed to refinancing debt at lower interest rates when such opportunities arise. Following the share repurchase program announced last November, the Company has purchased approximately 341,000 shares at an average price of $9.29 per share. We have also committed financing for the procurement and installation of scrubbers of $140 million to be drawn during the rollout of our program in 2019.

Slide 4 shows a summary of our 2018 financial highlights. Adjusted EBITDA for the full year of 2018 was at $260.9 million versus $128 million in 2017. Adjusted net income for 2018 amounted to $86.1 million or $1.12 gain per share versus $4.3 million adjusted net loss or $0.07 loss per share in 2017. Slide 5 graphically illustrates the changes in the Company's cash balance during the fourth quarter. The fleet generated free cash flow of $29.7 million. After including debt proceeds and repayments from our refinancing activities, CapEx payments for our acquisition and scrubber installments, final payment of our deferred debt amounts and share repurchase program; we arrived at a cash balance of $213.9 million at the end of the fourth quarter 2018.

Slide 6 highlights Star Bulk's strong liquidity position. On the left hand side we present our fleetwide breakeven of $11,600 per vessel day, which enables us to deleverage our balance sheet and create value for our shareholders even at relatively low average charter rates. On the right hand side, we provide a breakdown of the net debt position of Star Bulk, which is currently close to $1.27 billion pro forma for the expected 60% of the refinancing of one Ultramax vessel which is currently unlevered. Star Bulk has no remaining equity CapEx for the three Newcastlemax newbuilding vessels as there is committed financing in place for the remaining yard installments. We expect to take delivery of these vessels during the first half of 2019. The graph on the bottom right hand side shows the positive trend in our adjusted EBITDA and adjusted net income with five consecutive quarters of profitability.

Please turn to Slide 7 where we summarize our operational performance. OpEx was at $3,938 per vessel per day for the quarter and $3,994 per vessel per day for 2018 as a whole. Net cash G&A expenses were at $969 per vessel per day for the quarter and for 2018 G&A expenses were at $1,004 per vessel per day, a decrease of 8% year-on-year primarily attributed to synergies from the increase in the size of our fleet. The combination of our in-house management and the scale of the Group enable us to provide our services at very competitive costs complemented by excellent ship management capabilities with Star Bulk consistently ranked among the Top 3 managers evaluated by Rightship. Slide 8 highlights that Star Bulk is one of the lowest cost operators among US listed dry bulk peers based on latest publicly available information. Star Bulk's operating expenses are approximately 15% below the industry average.

In addition, we are very focused on having the highest standards of vessel safety and maintenance to meet the requirements of our most demanding clients. In Slide 9 we are providing an update on our scrubber program, which is proceeding as scheduled. Total expected CapEx as of February 2018 is at $130.5 million. The graph below illustrates the estimated breakdown of the payments by quarter based on current forward FX rates and expected milestones. It is important to note that we have secured approximately $140 million of debt financing for the program, which we will be drawing down gradually within 2019. We are currently completing the installation of scrubbers on 15 of our larger vessels and are continuing with preparatory work in numerous vessels in order to reduce off hire time.

We expect to have the entire fleet scrubber fitted by end of 2019 and we estimate about 5% off hires across our fleet for 2019 for scrubber installations. Slide 10 illustrates Star Bulk's employment coverage for the first quarter of 2019. We have fixed employment for approximately 70% of the days in the first quarter of 2019 at average TCE rates of $12,954 per vessel day.

I will now pass the floor to our CEO, Petros Pappas, for a market update and his closing remarks.

Petros Pappas -- Chief Executive Officer

Thank you, Christos. Please turn to Slide 11 for a brief update of supply. During 2018 a total of 28.2 million deadweight were delivered and 4.4 million deadweight were sent to demolition, both the lowest in a decade for a 23.7 million deadweight net inflow of vessels or 2.9%. A total of 32.7 million deadweight were reported by Clarksons as firm orders and up to an additional 8 million deadweight were identified as LOIs or options during the year. The order book currently stands between 11% and 12% of the fleet depending on how many LOIs and options will be exercised. It is worth noting that the geared order book stands at just 6.6% of the fleet. The average steaming speed of the dry bulk fleet was approximately 11.6 knots for the year. During 2019 and 2020, the fleet is projected to expand at a similar pace to that of 2018.

However, due to projected scrubber installations and tanks cleaning off hires during 2019 and slow steaming increased scrapping during 2020, effective supply is unlikely to expand by more than 1.5% per annum. Let's now turn to Slide 12 for a brief update of demand. According to Clarksons, the 2018 dry bulk trade is estimated to have grown by 2.4% in tons and 2.8% in ton-miles. This represents a downward revision to our last earnings call and is mainly caused by weaker iron ore and grain trade activity during the fourth quarter. Strong steel prices and profit margins during the first three quarters of 2018 supported a 6.4% increase in global steel production during 2018. This was led by China, which registered growth of 9.8% during the year. China's environmental restrictions have also led to a 4% year-on-year decline in domestic iron ore production.

Despite a combination of strong steel production and lower domestic iron ore production, China imports of iron ore experienced a decrease of 1% in 2018 as a result of increased use of scrap and destocking of iron ore stockpiles. Brazil iron ore exports expanded by only 1.7% during 2018 due to poor weather conditions, political unrest, and the Anglo-American pipe leakage incident in the first half of the year. Australian iron ore exports are estimated to have increased by 1.6% in 2018 with Q4 estimated to have contracted by 2.6% year-on-year. According to Clarksons, iron ore trade decreased by 0.1% in tons and 0.5% in ton-miles during 2018. China coal imports increased by 3.6% during 2018 with Q4 seeing a contraction of more than 20% due to import restrictions placed. Thermal coal imports during 2018 received support from a 7.4% increase in electricity generation, weak hydropower generation, and relatively flat domestic coal production.

At the same time, Indian coal imports are estimated to have increased by 17.7% during 2018. According to Clarksons, thermal and coking coal trade increased by 3.8% in tons and 5% in ton-miles during 2018. The US-China trade dispute and the imposition of 25% tariffs on US imports by China has taken its toll on soybean trade this year. Brazil soybean exports increased by 23%, partly picking up the slack ahead of the US export season, which has underperformed heavily during the last months. Chinese imports of soybeans ended down 7.8% year-on-year in 2018. According to Clarksons, grain trade including soybeans increased by 0.6% in tons and contracted by 0.6% in ton-miles during 2018. During 2019, total dry bulk trade in ton-miles is projected to expand at a slightly higher pace to that of 2018 mainly on the back of a rebound in grains trade.

Unfortunately, the Brazilian mine accident in January 2019 implies further iron ore disruptions, the extent of which are still too early to quantify. Furthermore, the IMO sulfur regulation is now less than 11 months away and we expect it will lead to a decrease in overall supply of vessels through slow steaming and accelerated scrapping affecting markets positively.

I will now pass the floor over to the operator to answer any questions you may have.

Questions and Answers:

Operator

Thank you. Your first question comes from the line of Amit Mehrotra from Deutsche Bank. Please go ahead and ask your question, your line is now open.

Christopher Snyder -- Deutsche Bank -- Analyst

This is Chris Snyder from Deutsche Bank. So, first question is around Q1 bookings. They came in a bit better than expectations given the recent weakness especially for the larger segments. Was this due to timing or vessel locations or are you guys seeing a firmer day rate environment than maybe what the ship brokers are quoting?

Hamish Norton -- President

Chris. Hi, Chris. Can you please repeat the question, I didn't hear the beginning?

Christopher Snyder -- Deutsche Bank -- Analyst

So, Q1 bookings came in better than expectations given the recent weakness especially for the larger segments. Was this due to timing or just vessel locations or are you guys seeing a firmer day rate environment maybe than what the ship brokers are quoting?

Petros Pappas -- Chief Executive Officer

Well, firmer bookings, you mean the fixtures that we have already done for Q1?

Christopher Snyder -- Deutsche Bank -- Analyst

Yes.

Petros Pappas -- Chief Executive Officer

Yes. Well, as we do every year, after August of every year until November we basically try to fix short-term periods that go through Q1 and part of Q2. It's a strategy we follow every year because most of the time seasonally Q1 and part of Q2 are relatively slow. So despite the fact that we were potentially expecting a cease of trade war, we thought that fixing at levels of around $13,000 was a decent level and therefore we went ahead and fixed. I mean had we not fixed, today we're facing a levels of between $5,000 and $7,000.

Christopher Snyder -- Deutsche Bank -- Analyst

Okay. Thank you for that color. And then next, so a few ports have announced open-loop scrubber bans in their territorial waters or inland waterways. Can you just talk about how this changes scrubber utilization? I think it would be helpful if you could talk about just how this changes the number of scrubber operating days for Capes and Panamax vessels as we all try to think about returns?

Petros Pappas -- Chief Executive Officer

Chris, when we did our calculations on scrubbers, we did not take into account port time at all. We were only taking into account ship days and therefore it does not make a difference in the computation we have done that these bans don't make a difference at all in our calculation. So, actually it's going to potentially be even better because there's going to be many ports that have no ban on open-loop scrubbers and there we will be able to use them. And also please keep in mind that in ports the consumption is like 2.5 tons per vessel where at sea it can be anywhere between 25 tons and 50 tons and therefore this consumption is very, very minor.

Christopher Snyder -- Deutsche Bank -- Analyst

Okay. Thank you for that. And then just a follow-up on the scrubbers, has there been any demand or outreach from charters looking to lock-in scrubber fitted vessels on term contracts? Obviously you guys would be giving up some upside locking some of these ships away, but it will also allow you to demonstrate the positive economics of the scrubber investment. Is there any -- any outreach on that front?

Petros Pappas -- Chief Executive Officer

There's been a number of charters that have approached us, but our strategy is different. We are intending to go toward voyage business meaning that we will source the cargos ourselves and therefore we will attempt to keep most of the benefit for ourselves.

Christopher Snyder -- Deutsche Bank -- Analyst

And could you provide any color on just kind of the premium? If you were to lock a scrubber fitted vessel on to a time charter, what kind of premium you would be looking at just relative to kind of the broader market?

Petros Pappas -- Chief Executive Officer

Well, we've seen charters offer...

Hamish Norton -- President

Yes. Are you looking at the premium we expect or the premium that charters are currently offering?

Christopher Snyder -- Deutsche Bank -- Analyst

The premium that charters are currently offering, I know it's obviously below what you guys expect, but I would just be interested to see what they're offering?

Petros Pappas -- Chief Executive Officer

Yes. Well, it's -- charters are asking between 30% and 50% of the premium, but they are offering all kinds of deals like they will offer to install the scrubber and make the profits themselves for up to five years without giving up any further premium. Other offers we've seen is to install the scrubber and pay $1,000 or $2,000 more. And then there's others that are saying OK, you install the scrubber and you can get between 50% and 70% of the benefit. And then there's others that say we will install the scrubber, we will get the initial benefit until we repay the scrubber, and then we can split 50-50 or 70-30 or whatever. So, there's all kinds. They're all over the place.

Christopher Snyder -- Deutsche Bank -- Analyst

Okay. I appreciate all the color. That does it for me. Thanks for the time, guys.

Petros Pappas -- Chief Executive Officer

Thank you, Chris.

Operator

Thank you. We will now take our next question. Please go ahead, your line is now open.

Randy Giveans -- Jefferies -- Analyst

Hey, guys. Randy Giveans from Jefferies. How are you all?

Hamish Norton -- President

Fine.

Randy Giveans -- Jefferies -- Analyst

Excellent, all right. So you repurchased $3.1 million of SBLK shares during 4Q '18, still I think $47 million or so in remaining authorization. So with the shares trading at a steep discount to NAV, about 10% below that average price that you repurchased shares in 4Q, are additional share repurchases the Number 1 use of cash going forward other than the scrubber financing?

Hamish Norton -- President

Certainly other than the scrubber acquisition, share repurchases are the only use of cash that we currently are contemplating other than of course normal repayment of debt.

Petros Pappas -- Chief Executive Officer

Sure. Just to add to that, in general we are conservative in that we want to make sure that we always have a high cash balance to make sure that we are able to survive any dry bulk market especially until we reach 2020.

Randy Giveans -- Jefferies -- Analyst

Yes, that's fair. And now, can you discuss some of the equity incentive program, how that was decided on? So specifically, how was the $120 million to $300 million outperformance and the 4 million shares kind of determined? Based on our math, it looks like the outperformance would be about $3,000 to $7,000 per day per vessel to get to those kind of aforementioned numbers. So with that, scrubbers could easily attain that kind of $3,000 to $7,000 day premium yet your press release stated the Company takes the view that the current likelihood of vesting these RSUs does not meet a quote unquote more likely than not standard. So with all that, what do you expect the outperformance to be for those scrubbers and then again if you can kind of touch on how you decided on those kind of outperformance metrics?

Hamish Norton -- President

Okay. So Randy, that's a very complex question. So first of all, let me make it clear that the incentive program was not an initiative of management. It was an initiative of the Compensation Committee and it was put together over a substantial period of time through discussions with management and because our Compensation Committee's aggregate IQ is so high, complexity was no obstacle to our Compensation Committee and the complexity of this plan blossomed without much limit. So, the answer is that it started out as a four-year plan with higher limits and was reduced to a two-year plan with the limits you see.

And the answer is we have great expectations for the performance of the scrubbers. But in terms of meeting a more likely than not standard for the financial statements, I think everybody agreed and in consultation with our auditors, our auditors agreed that the outperformance called for by the plan did not meet the appropriate accounting standard. And this is an accounting issue solely and I'm sure you have seen other instances where the accounting didn't necessarily track everything that you might have expected of the business. And that's basically why we included enough information so that you can make your own model based on your own assumptions. We'll see what the outperformance is when we get to it.

Randy Giveans -- Jefferies -- Analyst

Excellent, yes. I was not doubting the IQ of the Compensation Committee, but for my low IQ. Thank you for explaining that. Quick follow-up on the scrubbers. So, what spread in dollars per ton are you using kind of to determine that payback period of one to two years, maybe two-and-a-half years? And then secondly, for the scrubber strategy, is that driven more by economics or more by operational decisions for fuel compatibility or fuel availability issues that you maybe foresee?

Hamish Norton -- President

Okay. So first of all, there is a forward market in heavy fuel oil and marine gas oil. There is about to be or maybe has just developed a forward market for 0.5% fuel. So, there are forward prices for these fuels that can be used to calculate payback periods depending on your assumption about fuel availability, engine consumption, and how much of that premium the shipowner will get versus how much of that premium the charter will get if any. But I mean we pay a lot of attention to the forward market. And then our thinking was largely driven by economics because frankly in a free market, the likelihood of there being a significant shortage of either low sulfur or high sulfur fuel oil is not very high.

Randy Giveans -- Jefferies -- Analyst

Got it. All right. Well, I will...

Petros Pappas -- Chief Executive Officer

Randy, I'd like to -- Randy, this is Petros. I'd like to add the couple of things here. First of all, operationally continuing with heavy fuel oil will not present any issues for us and that's extremely important. We don't need to clean our tanks. We don't need to try new fuels. We don't need to use blends, which may be incompatible with each other. So operationally, it's going to be exactly the same way as it was for us also legally because there's going to be a number of claims on any charters that transcend the 1st of January 2020. What kind of bunkers do the charters deliver, the diesel or fuel, what prices? It's going to be extremely difficult legally for us, it doesn't change. We do with heavy fuel oil. The second thing I want to talk about was that when we say financially yes, we would like to make a profit and actually personally I think that if the price differential let's say is between $250 and $300, we may be able to repay the scrubbers within a year or so.

But the main financial consideration we have had in taking this decision was that we are hedging our future. Imagine if in January 2020, the market is actually not good. We think it's going to be good because we think there's going to be slow steaming, scrapping, and stuff like that, however -- and off hires. However, imagine a case where the market remains exactly the same as it is today in dollars per ton terms. In dollars per ton terms, it would mean that the guys that don't have scrubbers will actually have a higher cost and if they were making let's say $13,000 a day on a Kamsarmax, they may go down to $5,000 or $6,000 exactly because they will be paying higher bunker costs and these come out of those dollars per ton. Where the people that have scrubbers may be likely enough to face even lower heavy fuel oil prices and that means that even under bad market circumstances, we may be able to make more than $13,000 a day.

So a major driver and consideration for this decision of ours was to be able to hedge and not only survive, but do very well in a potentially slow market. If the market is strong, which we think it will be, then we'll just make a lot of money and we'll be all happy and maybe we'll get some promote. But if it is slow, then we are securing the future of our Company.

Randy Giveans -- Jefferies -- Analyst

I like it. Well, thank you so much for the in-depth color. That's it for me.

Operator

Thank you. Our next question is now open, please go ahead.

Hamish Norton -- President

Does that mean there are no more questions?

Operator

There are currently two more questions in the queue. Your line is now open.

Hamish Norton -- President

Okay.

Max Yaras -- Morgan Stanley -- Analyst

Hi. This is Max Yaras from Morgan Stanley. Can you guys hear me?

Hamish Norton -- President

Yes.

Max Yaras -- Morgan Stanley -- Analyst

All right. Thank you. You guys did a really good job of covering -- wrapping up 2018. I was wondering if you could give me an update on year-to-date trades, whether maybe coal trade bounced back post year-end or how you see Vale -- the Vale incident kind of already affecting flows?

Petros Pappas -- Chief Executive Officer

So, the question is about what Vale is going to be doing and what will happen with coal trade?

Max Yaras -- Morgan Stanley -- Analyst

Yes, exactly. What you're seeing so far this year?

Petros Pappas -- Chief Executive Officer

I think we are seeing exactly what you are seeing. I think we are seeing a couple of -- we're seeing a major catastrophe in a dam, which also cost lives and we're seeing potential disruptions in other mines not because there was an accident, but because they want to go through testing those -- the stability of those mines and obviously this has a negative effect -- effect on the market. This we hope and we expect is going to be a short-term effect on the market. But -- but even if it isn't and even if Brazil or Narvik or -- in Norway or Sept-Iles in Canada cannot actually cover for those lost tons, and I'm using these three places because the ton-miles are longer, and one has to -- and China has to import those cargos let's say from Australia which is the closest place to China for iron ore. That I did actually the calculation and I said OK, let's say that we have 30 million tons that needs to be imported from closer places, what will the effect on the market be?

So I did this calculation, I said OK, 30 million tons means 150 vessels and the differential in sailing is 50 days per trip so that's 7,500 days. If you divide that by 360 days of a year, it means 21 vessels. 21 vessels less needed because 30 million tons of iron ore will not be exported by Brazil, but may be exported by Australia. This -- the effect of that on demand is 1.25%. So, we're talking about 1.25%. The psychological effect of course it's higher and also the fact that this happened during the slowest quarter of the year and -- as it is seasonally and that it happened within one quarter, it has a bigger effect. So, it could be also potentially positive for the next quarters like if Brazil -- if Vale manages to recover from this problem, we could see more exports toward the second half of the year or for example if other countries compensated for those 30 million tons or whatever it's going to be because Brazil's iron content in iron ore is higher than from other countries, it could be -- it could mean that more tons are needed to be imported from other countries to compensate and therefore that might to an extent compensate for the loss of the ton-miles.

Now regarding coal, we see that two things. First of all, we see some bad weather in Australia which has reduced exports and of course on the other hand, this bad weather keeps vessels in port, but the effect -- the negative effect on export I think is probably higher. And we see something else, which is very interesting. We see China delaying -- there's no ban right now, but there's a delay in some ports of coking coal and a vessel may arrive at a port and delay for like 50 days to get the license to discharge. And I was wondering this afternoon why this may be happening. And I thought maybe if the China -- the US-China war is over, China will have to import stuff from the US and therefore it is possible that the Chinese are delaying coke imports from Australia in order to be able to compensate from the US in case there is some agreement coming forth in the next few weeks. If that happens, then we would see a much stronger market obviously because the ton-miles are going to be much higher. So, these are my answers on the two questions you posed.

Max Yaras -- Morgan Stanley -- Analyst

Yes, it's very interesting. I really appreciate the color. I heard you answer I believe it was Randy's question that your current scrubber fitting program and repurchases are may be top priorities or the only priorities. But just given your confidence and returns in the program, just wondering if you're thinking about maybe acquiring more vessels or spreading that program out to other vessels that you don't even own? How can you capture those returns above and beyond your current fleet? Does that make sense?

Hamish Norton -- President

Well, look, we have no current plans to acquire any vessels for cash. As we've done in the past, if we see fleets that are available for sale for cash and shares where we can use our shares so as to acquire these fleets without increasing our leverage at all and without decreasing our cash balance per vessel, we would consider that. But we haven't seen anything recently and I don't think the probability of that sort of thing occurring soon is very high.

Max Yaras -- Morgan Stanley -- Analyst

Sure. But what do you think about installing scrubbers maybe on other companies' vessels and some kind of profit share, any way to kind of capture that high return potential?

Hamish Norton -- President

Sure. We're in the market to do deals with other companies where we can install a scrubber on the ship and profit from that. Again, there are lots of deals that would make sense from our point of view, I don't know how likely those are going to end up being.

Petros Pappas -- Chief Executive Officer

Yes. Of course if you think that we're going to be installing 110 scrubbers on our vessels within the year, which is a major task. If we were to charter in more vessels, we would need to install more so it will make it even more difficult plus the cash flow expense because I don't think we can get loans on chartered in vessels we can -- as we did with our own fleet.

Hamish Norton -- President

Yes. And also Petros and I would have to go to welding school and it would take some time.

Max Yaras -- Morgan Stanley -- Analyst

Fair enough. Thank you, guys.

Operator

Thank you. We will now take our next question. Please go ahead, your line is now open.

Noah Parquette -- JP Morgan -- Analyst

Hi. It's Noah Parquette at JP Morgan. I wanted to ask you guys saw that report last week I think from the European Commission to the IMO and talking about environmental effects with scrubbers and there's been some growing movement toward that. I wanted to get your thoughts on potential implications maybe out of that meeting in May or if there's any change to kind of the life cycle of scrubbers in your view. And just I think that's coming out more in conversations now as a risk so just would love to hear your thoughts.

Hamish Norton -- President

Sure. So first of all, the scientific evidence is being really ignored in a lot of the popular and even the industry debate. And the scientific evidence is basically that if you use a scrubber, the wash water largely meets -- in most cases it meets European Union standards for drinking water, in every case it meets European Union standards for surface waters. And if you burn compliant fuel without a scrubber, you're putting these heavy metals and these polycyclic aromatic hydrocarbons into the air, which then fall into the water. So, I mean it's not as though you're not contributing to polycyclic aromatic hydrocarbons and heavy metals if you don't use a scrubber. Just the contrary, you're putting them into the air first before they go into the water.

But obviously we're concerned about the public relations aspect of this and it's taken some time, but the Clean Shipping Alliance 2020 is finally getting up to speed. We're members, there are a large number of other shipping companies who are members, and we'll be doing our utmost to get the facts across and make sure that they are heard. That being said, the current initiatives by certain ports to ban operation of open-loop scrubbers in port, as Petros said, is not a major economic hit. We were not counting on being able to use the scrubbers in any port when we did our analysis, but we obviously would start to be concerned if the initiatives went beyond that and that's hopefully what the Clean Shipping Alliance 2020 will be addressing.

Noah Parquette -- JP Morgan -- Analyst

Okay, great. And then just one question. Obviously everybody is looking at the demand impacts from Vale. Is there anything on the supply side that we're maybe missing in terms of Valemax utilization or any other things that could be part of the fall-off?

Petros Pappas -- Chief Executive Officer

On the supply side -- well, on the supply side, you mean vessels or iron ore from Vale?

Noah Parquette -- JP Morgan -- Analyst

Yes. I mean will some of the Valemax's utilization be impacted by this? I mean, it's hard for them to find other -- they're very specialized, right? So, just kind of love to hear your thoughts.

Petros Pappas -- Chief Executive Officer

There is a few tens of all the vessels that we believe will be impacted by the fact that there was a company that is being accused of tampering with the vessels condition and I think that this will actually turn into having to scrap like 40 to 50 of those vessels that are still in the season that are like 25-year to 30-year old. And I mean loading 50,000 or 100,000 tons of iron ore -- actually loading 30,000 tons per hour on iron ore Capes is very -- is very stressful on those vessels and if they're not in tip-top condition, you can have more accidents occurring like the one that happened a couple of years ago.

So, we believe that these vessels will be retired from circulation within the next 24 months at the most. I see already six vessels, six Capes having been scrapped in the first 40 days of this year. If this continued, it would mean 45 for a year. It won't continue like that obviously, but six vessels of older vintage have been scrapped. So, we think that this is very important. One other thing that I want to say is that with the slow market that we're seeing today, there are benefits because nobody is ordering and scrapping is more incentivized. So, there's nothing bad without some good as the ancient Greeks used to say.

Noah Parquette -- JP Morgan -- Analyst

Okay, great. Thank you.

Operator

Thank you. We'll now take our next question. Please go ahead, your line is now open.

Magnus Fyhr -- Seaport Global -- Analyst

Yes, hi. This is Magnus Fyhr, Seaport Global. I just had one question to clarify on the Vale delivery schedule -- Valemax delivery schedule. You mentioned that it's likely that these older VLOC conversions be phased out in the next 24 months. Well, will that not just be replaced by the large number of Valemaxes on order that's delivering over the next two years or has anything changed there or do you think these VLOC conversions will be scrapped ahead of the deliveries?

Petros Pappas -- Chief Executive Officer

Well. Of course, there is this VLOCs that are coming between now and 2022 and that is something that possibly will not change unless if some of the options that have been declared are not -- that have not been declared yet are never declared. Otherwise yes, we expect that these vessels will come in operation during the next three years or so.

Magnus Fyhr -- Seaport Global -- Analyst

Okay, great. Thanks for clarifying that.

Petros Pappas -- Chief Executive Officer

Thank you.

Operator

Thank you. (Operator Instructions) There have been no further questions entered at this time. Please continue.

Petros Pappas -- Chief Executive Officer

Nothing more to add, operator. Thank you all very much.

Operator

Thank you. Ladies and gentlemen, that does conclude our conference for today. Thank you for participating. You may all now disconnect.

Duration: 48 minutes

Call participants:

Christos Begleris -- Co-Chief Financial Officer

Petros Pappas -- Chief Executive Officer

Christopher Snyder -- Deutsche Bank -- Analyst

Hamish Norton -- President

Randy Giveans -- Jefferies -- Analyst

Max Yaras -- Morgan Stanley -- Analyst

Noah Parquette -- JP Morgan -- Analyst

Magnus Fyhr -- Seaport Global -- Analyst

More SBLK analysis

Transcript powered by AlphaStreet

This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.