Jefferies Upgrades Excel Maritime (EXM) to Hold After Better Q4 Results
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Price: $0.47 --0%
Rating Summary:
0 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 4 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies upgraded Excel Maritime (NYSE: EXM) from Sell to Hold with a price target of $2.00 (up from $1) after better than expected Q4.
The firm comments, "Last Friday, Excel reported a 4Q11 EPS loss of $0.24, excluding one-time items and unrealized interest rate derivative losses, which was in line with Street consensus but better than our estimate of an EPS loss of $0.30 due to better than expected spot charter rates earned during the quarter. Excel also announced a successful debt restructuring agreement with its banks."
The firm raised FY12 EPS from ($1.49) to ($1.41) and FY13 from ($1.20) to ($1.02).
For an analyst ratings summary and ratings history on Excel Maritime click here. For more ratings news on Excel Maritime click here.
Shares of Excel Maritime closed at $1.95 yesterday.
The firm comments, "Last Friday, Excel reported a 4Q11 EPS loss of $0.24, excluding one-time items and unrealized interest rate derivative losses, which was in line with Street consensus but better than our estimate of an EPS loss of $0.30 due to better than expected spot charter rates earned during the quarter. Excel also announced a successful debt restructuring agreement with its banks."
The firm raised FY12 EPS from ($1.49) to ($1.41) and FY13 from ($1.20) to ($1.02).
For an analyst ratings summary and ratings history on Excel Maritime click here. For more ratings news on Excel Maritime click here.
Shares of Excel Maritime closed at $1.95 yesterday.
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