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Costamare rises after reporting earnings that beat Wall Street estimates

For the quarter, the Monaco-based company reported adjusted net Income available to common stockholders of $ 0.12 per share, compared with the $0.10 average forecast of analysts
A shipping photo
During 2018, the company ordered new buildings and acquired secondhand vessels for a total value of about $900 million

Costamare Inc (NYSE:CMRE) rallied Thursday after the container ship company reported fourth-quarter profit that beat analysts' expectiations.

For the quarter, the Monaco-based company reported adjusted net Income available to common stockholders of $13.3 million, or $ 0.12 per share. That beat the $0.10 average forecast of analysts.

READ: Global Energy Ventures granted US approval for ship construction

Shares of the company rose 1.9% to $4.90 in after-hours trading

During 2018, the company ordered new buildings and acquired secondhand vessels for a total value of about $ 900 million.

Contact Dennis Fitzgerald at [email protected]

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