Costamare Inc. (NYSE:CMRE) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, October 7th.
CMRE has been the subject of a number of other research reports. Zacks Investment Research raised shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research note on Tuesday, September 26th. ValuEngine cut shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Costamare in a research note on Friday, July 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.21.
Shares of Costamare (NYSE CMRE) opened at 6.24 on Friday. The company’s 50 day moving average is $6.13 and its 200 day moving average is $6.68. Costamare has a 52-week low of $5.07 and a 52-week high of $8.18. The firm has a market cap of $661.38 million, a price-to-earnings ratio of 15.56 and a beta of 2.17.
Costamare (NYSE:CMRE) last posted its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.23 million. During the same quarter in the prior year, the firm posted $0.44 EPS. Costamare’s revenue was down 12.5% on a year-over-year basis. Analysts anticipate that Costamare will post $0.79 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. Parkwood LLC bought a new position in shares of Costamare in the 2nd quarter worth about $103,000. Voya Investment Management LLC bought a new position in shares of Costamare in the 2nd quarter worth about $105,000. American International Group Inc. increased its stake in shares of Costamare by 7.9% in the 1st quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock worth $109,000 after acquiring an additional 1,202 shares in the last quarter. Penn Capital Management Co. Inc. bought a new position in shares of Costamare in the 2nd quarter worth about $125,000. Finally, Sei Investments Co. bought a new position in shares of Costamare in the 1st quarter worth about $137,000. Institutional investors own 26.95% of the company’s stock.
Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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