Costamare Inc. (NYSE:CMRE) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Tuesday. ValuEngine cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $7.00 price objective on shares of Costamare in a report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.28.

Costamare (NYSE:CMRE) traded down 1.28% during trading on Thursday, reaching $6.18. 415,354 shares of the company were exchanged. The firm has a 50-day moving average of $6.28 and a 200-day moving average of $6.72. The firm has a market cap of $655.02 million, a price-to-earnings ratio of 15.41 and a beta of 2.22. Costamare has a 52-week low of $5.07 and a 52-week high of $9.54.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, equities analysts forecast that Costamare will post $0.82 EPS for the current year.

WARNING: “BidaskClub Upgrades Costamare Inc. (CMRE) to “Hold”” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/09/30/bidaskclub-upgrades-costamare-inc-cmre-to-hold.html.

Institutional investors have recently added to or reduced their stakes in the company. Parkwood LLC acquired a new position in shares of Costamare in the second quarter valued at approximately $103,000. Voya Investment Management LLC acquired a new position in shares of Costamare in the second quarter valued at approximately $105,000. American International Group Inc. boosted its holdings in shares of Costamare by 7.9% in the first quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock valued at $109,000 after buying an additional 1,202 shares during the period. Penn Capital Management Co. Inc. acquired a new position in shares of Costamare in the second quarter valued at approximately $125,000. Finally, Sei Investments Co. acquired a new position in shares of Costamare in the first quarter valued at approximately $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.

Analyst Recommendations for Costamare (NYSE:CMRE)

Receive News & Stock Ratings for Costamare Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costamare Inc. and related stocks with our FREE daily email newsletter.