Costamare Inc. (CMRE) Given New $10.00 Price Target at Barclays PLC
Costamare Inc. (NYSE:CMRE) had its price objective reduced by Barclays PLC from $11.00 to $10.00 in a research report report published on Monday morning. They currently have an equal weight rating on the stock.
CMRE has been the topic of a number of other reports. Zacks Investment Research cut Costamare from a hold rating to a sell rating in a research note on Tuesday, September 27th. Vetr cut Costamare from a strong-buy rating to a buy rating and set a $11.32 target price on the stock. in a research note on Thursday, June 9th. JPMorgan Chase & Co. raised Costamare from an underweight rating to a neutral rating and set a $12.00 price objective on the stock in a research report on Monday, August 1st. Credit Suisse Group AG set a $9.00 price objective on Costamare and gave the company a hold rating in a research report on Thursday, July 28th. Finally, Morgan Stanley cut Costamare from an overweight rating to an equal weight rating and dropped their price objective for the company from $12.00 to $7.50 in a research report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Costamare has a consensus rating of Hold and a consensus price target of $10.14.
Costamare (NYSE:CMRE) traded down 14.59% on Monday, reaching $7.73. The company’s stock had a trading volume of 546,537 shares. The stock has a 50-day moving average of $9.04 and a 200-day moving average of $9.19. Costamare has a one year low of $6.01 and a one year high of $15.10. The stock has a market cap of $585.14 million, a P/E ratio of 4.69 and a beta of 1.66.
Costamare (NYSE:CMRE) last released its earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Costamare had a return on equity of 15.03% and a net margin of 29.87%. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $119.37 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Costamare will post $1.57 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. acquired a new stake in Costamare during the second quarter valued at about $103,000. American International Group Inc. acquired a new stake in Costamare during the second quarter valued at about $117,000. Nationwide Fund Advisors acquired a new stake in Costamare during the second quarter valued at about $127,000. Quantitative Systematic Strategies LLC boosted its stake in Costamare by 60.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,563 shares of the company’s stock valued at $156,000 after buying an additional 6,584 shares in the last quarter. Finally, Nuveen Fund Advisors LLC acquired a new stake in Costamare during the second quarter valued at about $143,000. 15.13% of the stock is currently owned by hedge funds and other institutional investors.
Costamare Company Profile
Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.
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