Costamare Inc. (CMRE) Downgraded by Stifel Nicolaus to Sell
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Costamare from a sell rating to a hold rating in a research note on Monday. Barclays PLC decreased their price target on Costamare from $11.00 to $10.00 and set an equal weight rating for the company in a research note on Monday. Vetr downgraded Costamare from a strong-buy rating to a buy rating and set a $11.32 price target for the company. in a research note on Thursday, June 9th. JPMorgan Chase & Co. upgraded Costamare from an underweight rating to a neutral rating and set a $12.00 price target for the company in a research note on Monday, August 1st. Finally, Credit Suisse Group AG set a $9.00 price target on Costamare and gave the stock a hold rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $10.30.
Shares of Costamare (NYSE:CMRE) opened at 7.32 on Tuesday. The stock has a market capitalization of $554.10 million, a P/E ratio of 4.44 and a beta of 1.67. Costamare has a one year low of $6.01 and a one year high of $15.10. The company’s 50 day moving average price is $8.98 and its 200 day moving average price is $9.18.
Costamare (NYSE:CMRE) last issued its earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, beating 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 the consensus estimate of $119.37 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities analysts expect that Costamare will post $1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Friday, October 21st will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $0.40 dividend on an annualized basis and a yield of 5.46%. Costamare’s payout ratio is 70.30%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC increased its position in shares of Costamare by 4.9% in the second quarter. Global X Management Co. LLC now owns 1,001,166 shares of the company’s stock valued at $7,679,000 after buying an additional 46,890 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Costamare by 8.7% in the second quarter. Parametric Portfolio Associates LLC now owns 720,232 shares of the company’s stock valued at $5,524,000 after buying an additional 57,570 shares during the period. BlackRock Fund Advisors bought a new position in shares of Costamare during the second quarter valued at about $4,719,000. State Street Corp increased its position in shares of Costamare by 1,071.2% in the second quarter. State Street Corp now owns 357,156 shares of the company’s stock valued at $2,736,000 after buying an additional 326,660 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Costamare by 150.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 300,677 shares of the company’s stock valued at $2,306,000 after buying an additional 180,608 shares during the period. Institutional investors and hedge funds own 15.13% of the company’s stock.
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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