Wednesday, 28. June 2017  
22.03.2016 22:27
Author: Nic Wright

STOCK SCREEN: Greek Stocks With Margin-Of-Safety And Relative Strength

 

While greek stocks declined 23 percent last year, Greece’s economy weathered the shocks rather well in 2015, as GDP contracted by 0.2% only, following +0.7% growth in 2014. This resilience was perhaps surprising to some, considering the capital controls introduced in H2 2015 and the blow to confidence, mainly in Q3 2015, but tourism revenues were up by 6% in 2015, amounting to €14.2bn or 8% of GDP and fiscal policy was also expansionary in 2015.

 

Although higher taxes and spending cuts could weigh significantly on economic activity in the first half of 2016, a successful review of the third bail-out program could also trigger discussions on a debt relief and the inclusion of Greek bonds in its QE purchases.

 

In looking for ideas this week, we screen the greek market for stocks with relative strength and upside according to our Graham inspired fair value estimate.

 

Here are the filter criteria:

1. Market capitalization above 500 mio.

2. Relative Strength over 12 months.

3. Upside to Intrinsic Stock Value according to our AVM’s Graham inspired estimate.

 

Here is our list of stocks matching all criteria in alphabetical order. Company names in the table below are linked to the ANALYZER, our single stock analysis tool. Intrinsic Value Model assumptions can be adapted in the MODELER, our modeling and forecasting environment:

CLICK COMPANY NAME FOR DETAILED STOCK VALUE ANALYSIS

LAST PRICE

MARKET CAP.

MEAN MULTIPLE UPSIDE [%]

GRAHAM UPSIDE [%]

GREENBLATT UPSIDE [%]

DIVIDEND YIELD [%]

 AEGEAN AIRLINES

7.90

564

-24.9

3.7

10.3

8.4

 JUMBO SA

11.08

1508

-7.7

26.1

10.4

2.0

 MOTOR OIL (HELLAS) SA

9.10

1008

15.2

17.8

-72.6

7.9