Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Costamare Inc    CMRE   MHY1771G1026

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Costamare To Continue Fleet Growth With Newbuilds,Acquisitions-Executive

share with twitter share with LinkedIn share with facebook
share via e-mail
05/03/2012 | 03:24pm CET

Greek shipping company Costamare Inc. (>> Costamare Inc) will probably continue to grow through new builds and acquisitions and it remains optimistic about the global containership market, a company executive said Thursday.

"We've recently done some acquisitions and will continue to seek opportunistic buys," Chief Financial Officer Gregory Zikos said, adding that the company has enough cash to buy more ships in future.

At Dec. 31, Costamare's cash balances was about $144 million while its undrawn credit facilities were about $153 million. Costamare also issued a public offering of its common stock in March that raised about $100 million.

"We'll look at everything as long as returns are forthcoming," Zikos said, noting that, historically, the company's return on equity has been close to 30%. The preferred rate of return for shareholders is normally 15%-20%.

The company would consider vessels that are much older and have a greater capacity than its existing average fleet, he said. He added that, for new builds, it is important the vessel be debt free towards the end of its charter license as this will help reduce financial risks resulting from volatility in charter rates.

Zikos said the outlook for Europe's containership business is improving due to increased trade on certain routes. "We won't be surprised if the charter rates, especially for the bigger vessels, edge upwards through the year," he said.

Costamare's customers include A.P Moller-Maersk, COSCO and Evergreen Marine. Although many shipping companies are facing financial pressure due to over-capacity, high docking prices and sluggish demand, Costamare hasn't faced payment issues from its clients so far, Zikos said. "We are extremely happy with the quality of our customers," he added.

-By Surabhi Sahu, Dow Jones Newswires; +65 6415 4086; [email protected]

Stocks mentioned in the article : Costamare Inc
Stocks mentioned in the article
ChangeLast1st jan.
AP MOLLER-MAERSK -4.89% 1549 Delayed Quote.-8.66%
AP MOLLER-MAERSK 1.20% 9424 Delayed Quote.-14.10%
COSCO SHIPPING HOLDINGS CO LTD -0.16% 6.27 End-of-day quote.-7.24%
COSTAMARE INC 2.19% 6.53 Delayed Quote.10.57%
GOLDEN AGRI-RESOURCES LTD 0.00% 0.35 End-of-day quote.-6.67%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on COSTAMARE INC
03/01COSTAMARE INC. : Announces Availability of its Annual Report on Form 20-F for th..
01/29COSTAMARE INC. : Announces Public Offering of Series E Preferred Stock
01/25Costamare Inc. Announces Pricing of its 8.875% Series E Preferred Stock
01/25Costamare Inc. Announces Public Offering of Series E Preferred Stock
01/23COSTAMARE : tops 4Q profit forecasts
01/23Costamare Inc. Reports Results for the Fourth Quarter and Year Ended December..
01/22COSTAMARE INC : Ex-dividend day for
01/19COSTAMARE INC : EX-Dividend Schedule: Costamare Has a Dividend Yield of 6.33%; W..
01/18COSTAMARE : Sets the Date for Its Fourth Quarter 2017 Results Release, Conferenc..
01/02COSTAMARE : Declares Quarterly Dividend on its Preferred and Common Stock
More news
News from SeekingAlpha
03/2027 RUSSELL 3000 'SAFER' DIVIDEND STO : A Bevy Of REITs For March 
03/08Outsized Yield Opportunity From New Preferred Equity 
03/05How Trump's 'Trade War' Could Impact Maritime Trade 
02/27Is The Storm Over For Container Shipping? 
02/26'SAFER' DIVIDEND INDUSTRIALS TOP GAI : Atento, Capital, Hoegh And Rent-A-Center .. 
Financials ($)
Sales 2018 391 M
EBIT 2018 137 M
Net income 2018 64,3 M
Debt 2018 857 M
Yield 2018 6,18%
P/E ratio 2018 10,87
P/E ratio 2019 6,64
EV / Sales 2018 3,99x
EV / Sales 2019 3,43x
Capitalization 700 M
Duration : Period :
Costamare Inc Technical Analysis Chart | CMRE | MHY1771G1026 | 4-Traders
Technical analysis trends COSTAMARE INC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 7,50 $
Spread / Average Target 16%
EPS Revisions
Konstantinos Vasileios Konstantakopoulos Chairman & Chief Executive Officer
Gregory G. Zikos Chief Financial Officer & Director
Konstantinos Zacharatos Director
Charlotte Stratos Independent Director
Vagn Lehd Møller Independent Director
Sector and Competitors