Odyssey Marine Exploration Inc (NASDAQ:OMEX) Gets Upgraded

900

Dallas, Texas 03/26/2014 (FINANCIALSTRENDS) – Zacks has upgraded Odyssey Marine Exploration Inc (NASDAQ:OMEX) shares from a “neutral” to an outperform rating in the research report that was released to investors. And currently has a price target of $2.60 on the stock. Odyssey Marine Exploration (NASDAQ:OMEX) last released the company’s earnings-data on 11 March 11th. It reported earnings per share of $0.13 for the quarter, which topped the average analysts’ projections of $0.12 by $0.01.

Odyssey Marine Exploration Inc (NASDAQ:OMEX) reported revenue of $7.20M for the quarter, in comparison to the average projection of $20.03 million. In the same quarter of the previous year, Odyssey Marine Exploration Inc (NASDAQ:OMEX) posted earnings per share of $0.05. On an average, analysts project that Odyssey Marine Exploration Inc (NASDAQ:OMEX) will post earnings per share of $-0.02 the current financial year.

In separate news, Odyssey Marine Exploration Inc (NASDAQ:OMEX) has reached the agreement in principle to now conduct its archaeological excavation & recover the remainder valuable gold-cargo out from the SS Central America shipwreck that is situated around approximately 160miles off the South Carolina coast. This exclusive contract will now become effective & additional information will also be available post the review & approval by Common Pleas Court of the Franklin County, Ohio, that has jurisdiction over the Recovery Limited Partnership & Columbus Exploration LLC. And, pending this approval of court, Odyssey Marine Exploration Inc (NASDAQ:OMEX) plans on starting work on this shipwreck site in 2014 April .

Odyssey has been selected for this project by , the court-appointed receiver, Ira Owen Kane who now represents the Recovery Limited Partnership & Columbus Exploration LLC. Kane is charged via the court with overseeing this recovery project, & has the benefit of the permanent injunction & exclusive salvage rights over SS Central America shipwreck that has been granted by the United States District Court for the Eastern Division of Virginia.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.