Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Delayed Quote. Delayed  - 09/23 10:02:01 pm
9.28 USD   -0.85%
08/01 COSTAMARE INC. : Announces 2016 Annual Meeting of Stockholders
08/01 COSTAMARE INC : ex-dividend day
07/28 COSTAMARE : beats 2Q profit forecasts
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Costamare To Continue Fleet Growth With Newbuilds,Acquisitions-Executive

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/03/2012 | 03:24pm CEST

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; surabhi.sahu@dowjones.com

Stocks mentioned in the article : Costamare Inc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COSTAMARE INC
08/01 COSTAMARE INC. : Announces 2016 Annual Meeting of Stockholders
08/01 COSTAMARE INC : ex-dividend day
07/28 COSTAMARE : beats 2Q profit forecasts
07/27 COSTAMARE : Reports Results Second Quarter and Six-Months Ended June 30, 2016
07/27 COSTAMARE INC. : Reports Results for the Second Quarter and Six-Months Ended Jun..
07/22 COSTAMARE INC. : Sets the Date for Its Second Quarter 2016 Results Release, Conf..
07/06 COSTAMARE INC. : Announces Implementation of Dividend Reinvestment Plan
07/06 COSTAMARE INC. : Declares Quarterly Dividend on Its Preferred and Common Stock
04/27 COSTAMARE INC. : Announces Availability of Its Annual Report on Form 20-F for th..
04/20 COSTAMARE : beats 1Q profit forecasts
More news
Sector news : Deep Sea Freight
09/23DJAP MOELLER MAERSK A/S : Today's Top Supply Chain and Logistics News From WSJ
09/23DJAP MOELLER MAERSK A/S : Shipping Giant to Split Up -- WSJ
09/23DJAP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions..
09/22DJAP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions..
09/22DJAP MOELLER MAERSK A/S : A.P. Moeller-Maersk to Split Into Two Separate Divisions..
More sector news : Deep Sea Freight
News from SeekingAlpha
09/24 Transports Week In Review - Downward GDP Revisions Continue To Place Pressure..
09/19 DIVIDENDS & INCOME DIGEST : These Aren't Your Grandpa's Investments - Adam Alois..
09/17 Transports Week In Review - Markets Remain Volatile As FOMC September Meeting..
09/16 COSTAMARE INC. : Another Preferred Dividend Opportunity Revisited - An Update
09/01 Russell 2000 Dogs Dig Up Healthcare, Industrials, Basic Materials, & Real Est..
Advertisement
Financials ($)
Sales 2016 469 M
EBIT 2016 211 M
Net income 2016 114 M
Debt 2016 1 256 M
Yield 2016 12,4%
P/E ratio 2016 6,46
P/E ratio 2017 6,82
EV / Sales 2016 4,17x
EV / Sales 2017 4,03x
Capitalization 700 M
More Financials
Chart COSTAMARE INC
Duration : Period :
Costamare Inc Technical Analysis Chart | CMRE | MHY1771G1026 | 4-Traders
Full-screen chart
Technical analysis trends COSTAMARE INC
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 10,5 $
Spread / Average Target 13%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
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
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
COSTAMARE INC-10.94%700
CHINA MERCHANTS ENERGY..-25.81%4 180
COSCO SHIPPING CO., LT..-43.18%1 877
SEASPAN CORPORATION-11.83%1 472
EVERGREEN MARINE CORPO..--.--%1 455
CHINA DALIAN INTERNATI..--.--%1 026
More Results