Costamare (NYSE:CMRE) posted its earnings results on Sunday. The shipping company reported $0.27 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27, MarketWatch Earnings reports. Costamare had a net margin of 3.80% and a return on equity of 11.59%. NYSE:CMRE opened at $8.43 on Tuesday. Costamare has a 12 month low of […]
Costamare (NYSE:CMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $7.50 price target on the shipping company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.95% from the stock’s previous close. According to […]
Costamare (NYSE:CMRE) had its target price raised by Stifel Nicolaus from $8.00 to $9.50 in a research report released on Monday morning, Analyst Ratings Network reports. The firm currently has a buy rating on the shipping company’s stock. Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of […]
The following slide deck was published by Costamare Inc. in conjunction with their 2020 Q2 earnings call..
Costamare (NYSE:CMRE): Q2 Non-GAAP EPS of $0.26 beats by $0.05; GAAP EPS of -$0.70 misses by $1.02. Revenue of $111.87M (-4.4% Y/Y) misses by $6.18M. Press
Costamare Inc. Sets the Date for Its Second Quarter 2020 Results Release, Conference Call and Webcast | MarketScreener23 Jul, 12:10, MarketScreener • 拡大
Earnings Release: Monday, July 27, 2020, After Market Close Conference Call and Webcast: Tuesday, July 28, 2020, at 8:30 a.m. ET MONACO, July 23, 2020 -- Costamare Inc. , announced… | July 23, 2020
Costamare Inc. Sets the Date for Its Second Quarter 2020 Results Release, Conference Call and Webcast↳ 12:09, GlobeNewswire • 拡大
Earnings Release: Monday, July 27, 2020, After Market Close Conference Call and Webcast: Tuesday, July 28, 2020, at 8:30 a.m. ET MONACO, July 23, 2020 …
Costamare has successfully pushed back most debt obligations into 2024.
Container-ship lessors represent one of the most crowded segments in the U.S.-listed shipping arena – and one of the most highly leveraged to COVID-19. Such owners, known as "tonnage providers," lease vessels for varying lengths of time to liner companies, which use chartered ships to complement their owned fleets. If global consumer demand rebounds robustly, stocks of tonnage providers should surge. If there's an extended downturn, they face years of pain. Liners have heavily "blanked" (canceled) sailings to cut costs and prop up freight rates in the wake of lower consumer demand. The longer fleet capacity exceeds coronavirus-reduced demand, the more likely that liners will permanently reduce fleet size by letting expiring charters roll off without renewal, and possibly even seek to renegotiate rates on long-term charters. As IHS Markit (NYSE: INFO ) Director of Transportation Consulting Paul Bingham recently told FreightWaves, "The whole reason carriers deliberately have a portfolio-management strategy [fleets partially owned, partially chartered] is that you don't want to get stuck with a 100% owned fleet at a time like this.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article and predicted that a US recession is imminent. We also told you to short the market ETFs and buy long-term bonds. Investors who agreed with us and replicated these trades are
If you want to make money in container shipping, better to lease out mega-ships to the liner companies than to be a liner company operating those vessels, paying the fuel bills and catering to cargo customers. Container-ship lessor Costamare (NYSE: CMRE ) is a case in point. On the quarterly analyst call, Gregory Zikos, Costamare's chief financial officer, reported that "larger vessels have enjoyed a rising charter market and today there's a limited supply. Charter rates for larger vessels have been rising faster than those of smaller vessels." Costamare cited data from Clarksons showing that one-year time-charter rates have reached $30,000 a day for container ships with capacity to carry 8,500 twenty-foot-equivalent units (TEU). Chart credit: Costamare According to Zikos, there is now more interest in three- to five-year charters beyond the standard one-year term. "The gap [in pricing] between a one-year and three- to five-year charter is not as wide as it has been in the past," he said, pointing out that "some years ago, there was no three- to five-year market for larger vessels at all, and now we are seeing these deals." When liner companies agree to multi-year charters at pricing that's at less of a discount to one-year rates than before, it implies that they're more concerned about future rate inflation and are more inclined to lock in capacity now to protect themselves.
Costamare (CMRE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Over 3,000 cases of Ebola virus have been recorded in the Democratic Republic of Congo so far. The haemorrhagic fever epidemic has already killed more than 2,000 people since August 2018 in the country according to the health authorities. In the current epidemic there have been 3,373 cases infections out of which at least 2,231 deaths, according to the latest count of the Multi-sectoral Committee for the Response to the Epidemic (CMRE) as at Saturday (December 28). Authorities also indicate that “341 suspected cases are under investigation.” North Kivu and Ituri provinces in the east of the country are the most affected by the disease. Control efforts are regularly disrupted there due to the insecurity caused by the presence of numerous militias. Ebola facilities are the target of attacks in these areas and members of Ebola teams have been killed or injured in armed attacks. The current Ebola outbreak is the tenth on Congolese soil since 1976 and the second most serious in history after the one that killed some 11,000 people in West Africa in 2014.
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