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Pyxis Tankers Inc (PXS)
NASDAQ:PXS
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Pyxis Tankers
(NASDAQ:PXS)
64Neutral
Pyxis Tankers (PXS) vs. S&P 500 (SPY)
Market Cap
$35.00M
Dividend YieldN/A
Average Volume (3M)15.96K
Price to Earnings (P/E)1.2
Beta (1Y)0.24
Revenue Growth4.27%
EPS Growth61.99%
CountryUS
EmployeesN/A
SectorEnergy
Sector Strength73
IndustryTransportation
Share Statistics
EPS (TTM)2.78
Shares Outstanding10,639,536
10 Day Avg. Volume15,723
30 Day Avg. Volume15,959
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)N/A
Price to Sales (P/S)0.77
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$10.00Price Target Upside203.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Pyxis Tankers Business Overview & Revenue Model
Company DescriptionPyxis Tankers Inc. (PXS) is a maritime transportation company that operates in the tanker sector, primarily engaged in the seaborne transportation of refined petroleum products and other bulk liquids. The company's fleet consists of modern and versatile product tankers that are designed to transport a wide range of cargoes including gasoline, jet fuel, naphtha, and other clean petroleum products.
How the Company Makes MoneyPyxis Tankers generates revenue through the chartering of its fleet of product tankers to customers on the global maritime market. The company typically enters into time charters, spot charters, or contracts of affreightment, offering its vessels for specified periods or voyages. Time charters provide fixed, recurring revenue over the charter period, while spot charters allow the company to capitalize on short-term market rates. Key factors influencing earnings include global oil demand, freight rates, and the efficient management of operating expenses. The company's earnings are also affected by its strategic partnerships with charterers and its ability to maintain high utilization rates of its fleet.
Pyxis Tankers Financial Statement Overview
Summary
Pyxis Tankers demonstrates strong profitability with high margins, indicating solid operational efficiency. However, cash flow challenges and increasing leverage present potential risks. The balance sheet shows a reasonable equity position, but growing debt levels need careful monitoring.Income Statement
Pyxis Tankers has shown a notable improvement in profitability metrics over the recent period. The Gross Profit Margin for the TTM is approximately 49.56%, indicating strong operational efficiency. The Net Profit Margin stands at 65.18%, supported by significant net income in the latest period. However, the Revenue Growth Rate from the previous year to the TTM shows a slowdown at 16.05% compared to past years, which could be a concern for sustained growth. Despite this, the EBIT and EBITDA margins are robust at 40.77% and 57.24%, respectively, reflecting healthy earnings before interest, taxes, depreciation, and amortization.70
Positive
Balance Sheet
The Balance Sheet of Pyxis Tankers presents a mixed picture. The Debt-to-Equity Ratio as of the latest TTM period is 0.85, which is relatively stable, indicating manageable leverage levels. Return on Equity (ROE) is strong at 33.93% for the latest TTM, suggesting effective use of equity. However, the Equity Ratio stands at 51.20%, indicating a balanced but not overly conservative capital structure. The significant increase in total debt over the last few periods is a potential risk if not matched by growth in assets or equity.65
Positive
Cash Flow
Cash flow analysis reveals some challenges. The Free Cash Flow has declined significantly in the TTM, with a negative Free Cash Flow of -$33.66 million. The Operating Cash Flow to Net Income Ratio is 0.40, which shows that earnings are not fully supported by cash flow from operations. Additionally, the Free Cash Flow to Net Income Ratio is negative, indicating cash outflows exceed inflows, a potential concern for liquidity if this trend persists.55
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 38.08M | 45.47M | 58.34M | 25.34M | 21.71M | 27.75M | Gross Profit |
| 3.33M | 27.11M | 22.41M | -1.60M | 2.15M | 4.55M | EBIT |
| -4.37M | 41.87M | 17.31M | -8.51M | -2.27M | 228.00K | EBITDA |
| 2.03M | 48.56M | 24.32M | -3.75M | 2.15M | 3.00M | Net Income Common Stockholders |
| -7.80M | 37.04M | 13.39M | -15.62M | -11.54M | -14.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 545.00K | 54.54M | 7.56M | 6.18M | 1.62M | 1.44M | Total Assets |
| 116.62M | 166.31M | 138.98M | 142.56M | 93.19M | 108.77M | Total Debt |
| 67.46M | 60.95M | 70.88M | 82.58M | 58.59M | 63.22M | Net Debt |
| 66.92M | 26.41M | 63.31M | 76.39M | 56.97M | 61.78M | Total Liabilities |
| 76.67M | 65.45M | 77.61M | 93.71M | 63.63M | 76.77M | Stockholders Equity |
| 39.94M | 96.54M | 61.37M | 48.85M | 29.56M | 32.00M |
| Cash Flow | Free Cash Flow | ||||
| -42.58M | -10.57M | 4.72M | -44.09M | -13.60M | 5.14M | Operating Cash Flow |
| 1.00M | 21.44M | 8.27M | -896.00K | -13.03M | 5.66M | Investing Cash Flow |
| -35.07M | 12.21M | 4.95M | -43.19M | 12.63M | -517.00K | Financing Cash Flow |
| 27.66M | -7.50M | -12.91M | 49.93M | -739.00K | -4.17M |
Pyxis Tankers Technical Analysis
Negative
3.29
Price Trends
3.73
Negative
3.92
Negative
4.49
Negative
Market Momentum
-0.11
Positive
26.26
Positive
11.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PXS, the sentiment is Negative. The current price of 3.29 is below the 20-day moving average (MA) of 3.57, below the 50-day MA of 3.73, and below the 200-day MA of 4.49, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 26.26 is Positive, neither overbought nor oversold. The STOCH value of 11.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PXS.
Pyxis Tankers Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.90B | 2.92 | 24.68% | 4.16% | -8.16% | 15.26% | |
73 Outperform | $1.65B | 9.10 | 17.56% | 9.29% | 2.11% | 13.10% | |
71 Outperform | $385.94M | 3.13 | 21.87% | 9.94% | 46.10% | ― | |
70 Outperform | $514.55M | 10.90 | 8.91% | 16.46% | -9.60% | -46.39% | |
64 Neutral | $35.00M | 1.18 | 38.90% | ― | 4.27% | 61.99% | |
63 Neutral | $1.62B | 4.00 | 23.33% | 17.20% | -11.21% | -25.50% | |
57 Neutral | $8.36B | 5.49 | -6.03% | 7.47% | 0.03% | -68.64% |
* Energy Sector Average
Performance Comparison
PXS
Pyxis Tankers
3.31
-1.37
-29.27%
DHT
DHT Holdings
10.20
0.28
2.82%
NAT
Nordic American Tanker
2.47
-1.05
-29.83%
STNG
Scorpio Tankers
38.07
-31.28
-45.10%
ASC
Ardmore Shipping
9.54
-5.86
-38.05%
INSW
International Seaways
32.85
-14.06
-29.97%
Pyxis Tankers Earnings Call Summary
Earnings Call Date: Nov 22, 2024 | % Change Since: -18.16% | Next Earnings Date: Mar 13, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong financial performance with significant revenue growth and successful expansion into the dry-bulk sector. Despite facing challenges such as soft charter rates and geopolitical uncertainties, the company maintains a positive market outlook and strategic financial management. The highlights outweigh the lowlights, indicating a positive sentiment.Highlights
Strong Financial Performance and Revenue Growth
Consolidated time charter equivalent revenues (TCE) of $11.7 million in Q3 2024, marking an increase of over 25% from the same period in 2023. Net income of $3.5 million or $0.34 basic EPS, representing a $0.05 per share improvement compared to Q3 2023.
Successful Expansion into Dry-Bulk Sector
Acquisition of the 2015-built Kamsarmax in late June, leading to a fleet of 6 modern midsized Eco vessels. Daily TCE for the fleet in Q3 2024 was approximately $22,000.
Strong Chartering Environment
MRs achieved a 6% improvement in daily TCE, reaching $29,826 for Q3 2024. Dry-bulk carriers reported an average daily TCE of $13,841.
Positive Market Outlook
Encouraging macroeconomic indicators such as easing inflationary pressures and anticipated interest rate cuts. Expected demand growth for product tankers due to new refinery capacity and geopolitical factors affecting ton-miles.
Strategic Financial Management
Consolidated leverage ratio of net funded debt stood at 22% of total capitalization. Common share buyback program reduced potential dilution, enhancing earnings and net asset value per share.
Lowlights
Challenges in China
Slower global economic activity, especially in China, impacting worldwide trade and chartering rates.
Soft Charter Rates in Q3
Q3 was sequentially lower than Q2 in both segments due to softer charter rates and seasonal factors.
Limited Acquisition Opportunities
Current prices for modern MRs near 10-year historical highs, making viable acquisition candidates difficult to identify.
Potential Market Volatility
Uncertainty due to macroeconomic conditions and unfolding global events, including potential expansion of tariffs and geopolitical conflicts.
Company Guidance
During the Q3 2024 earnings call for Pyxis Tankers, guidance was provided by executives Eddie Valentis and Henry Williams. The company reported a solid financial performance, driven by favorable market conditions and a successful expansion into the dry-bulk sector. Key metrics included a consolidated time charter equivalent (TCE) revenue of $11.7 million, marking a 25% increase from the previous year, and an adjusted EBITDA rise to $6.7 million. Net income was reported at $3.5 million with a basic EPS of $0.34, showing a $0.05 per share improvement compared to Q3 2023. For Q4 2024, 69% of available days for MR vessels were booked at an average estimated TCE rate of $24,630 per day, while 55% of available days for bulk carriers were booked at an average TCE of $13,190 per day. The company emphasized its commitment to pursuing accretive investment opportunities, maintaining a strong balance sheet, and continuing its common share repurchase program.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.