Previous close | 7.48 |
Open | 7.48 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's range | 7.38 - 7.54 |
52-week range | 6.26 - 10.60 |
Volume | |
Avg. volume | 338,844 |
Market cap | 23.715B |
Beta (5Y monthly) | 1.18 |
PE ratio (TTM) | 6.65 |
EPS (TTM) | 1.13 |
Earnings date | 02 May 2024 |
Forward dividend & yield | 0.37 (4.98%) |
Ex-dividend date | 15 Mar 2024 |
1y target est | N/A |
COPENHAGEN (Reuters) -Shipping group Maersk raised its full-year profit guidance after posting better than expected quarterly earnings on Thursday, citing strong container shipping demand and the diverting of vessels around Africa to avoid the Red Sea. The Copenhagen-based company, viewed as a barometer of world trade, said growth in demand for ocean container shipping was at the upper end of the expected 2.5-4.5% range this year. Maersk and rivals have diverted ships around Africa since December to avoid attacks by Houthi militants on vessels in the Red Sea, sending freight rates higher because of the longer sailing times.
The Interim Report for the 1st Quarter 2024 for A.P. Møller - Mærsk A/S is hereby enclosed. CEO of A.P. Møller - Mærsk A/S, Vincent Clerc, states: “We have had a positive start to the year with a first quarter developing precisely as we expected. Demand is trending towards the higher end of our market growth guidance and conditions in the Red Sea remain entrenched. This not only supported a recovery in the first quarter compared to the previous quarter, but also provide an improved outlook for t
European shipping firms Maersk and Hapag-Lloyd are unlikely to get a big boost from soaring freight rates due to the Red Sea crisis in the first quarter, reinforcing worries about overcapacity in the long run. Spot freight rates tripled to almost $3,500 a container after vessels began avoiding the Red Sea due to attacks by Houthi militants, the Freightos Baltic Index showed. That compares to the pandemic peak of $13,559, at a time when shippers ordered new vessels in a move that later caused overcapacity, according to Stifel analyst Marc Zeck.