Paragon Shipping Inc.

Paragon Shipping Inc. (PRGN - Snapshot Report), an international shipping company that transports dry bulk cargoes, reported first quarter earnings on May 14 that beat Wall Street estimates by 43.90%.

Net income nearly tripled to $15.8 million, or 59 cents per share, from $5.8 million, or 43 cents per share, in the first quarter of 2007. Analysts expected 41 cents per share. Revenue soared to $40.5 million from $13.5 million in 2007.

The company operated more vessels in 2008 than in 2007. During the quarter it averaged 11 vessels, earning an average time charter equivalent rate of $39,098 per day, compared to 5.82 vessels at an average rate of $24,498 per day in the year ago period.

Paragon's 2008 P/E is 10.34. The company, a Zacks #1 Rank (Strong Buy), has beaten estimates the last four quarters on average of 28.85%. Read the Apr 25 analysis.

Update to Previous Value Zacks Rank Buy Stocks

Stone Energy Corporation (SGY - Analyst Report), the Louisiana-based independent oil and natural gas exploration and production company, reported first quarter earnings on May 6 that blew by analysts' estimates by 36.20%.

Net income rose to $62.2 million, or $2.22 per share, compared to $10.5 million, or 38 cents, in the first-quarter 2007. Analysts expected $1.63 per share.

Consensus estimates for the second quarter and the year rose in the last week. For the second quarter, estimates increased six cents to $1.89 from $1.83 per share and are up 64% from 60 days ago. For the year, estimates also spiked in the last seven days by 37 cents to $7.50 from $7.13 per share.

Stone Energy, a Zacks #1 Rank (Strong Buy), has surprised on estimates the last four quarters by an average of 55.59%. Read the Apr 17 analysis.

Last Week's Value Zacks Rank Buy Stocks

Coca-Cola FEMSA S.A. (KOF - Snapshot Report), the second-largest Coca-Cola bottler in the world, is finding a strong Latin America market for Coca-Cola brands as sales rose 3.8% in the first quarter. The company has a price-to-book of only 0.11. Read the May 13 analysis.

Superior Essex, Inc. (SPSX), a global wire and cable product manufacturer, has beaten Wall Street estimates the last four quarters on average of 25.97%. Despite the stock trading near 52 week highs, the company has a 2008 P/E of only 10.78. Read the May 14 analysis.

Chevron Corporation (CVX - Analyst Report), the large integrated oil company headquartered in California, has surprised on estimates three out of the last four quarters on average of 2.36%. Despite the stock trading near 52 week highs, Chevron's forward P/E is only 9.28. Read the May 15 analysis.

Tyco Electronics Limited (TEL - Analyst Report), the global manufacturer of electronic components, network solutions and wireless systems, has surprised on estimates three out of the last four quarters on average of 6.43%. Earnings per share rose 12% in the second quarter year over year. Read the May 16 analysis.

The author of this article owns share in Paragon Shipping Inc. and Chevron Corporation.