Costamare Inc. (CMRE) Downgraded by BidaskClub to “Sell”
BidaskClub lowered shares of Costamare Inc. (NYSE:CMRE) from a hold rating to a sell rating in a research report released on Saturday morning.
Several other research analysts also recently commented on CMRE. Zacks Investment Research raised Costamare from a sell rating to a hold rating in a research note on Tuesday, September 5th. ValuEngine raised Costamare from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a hold rating and issued a $7.00 price objective on shares of Costamare in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $7.21.
Costamare (CMRE) traded down 1.15% during midday trading on Friday, hitting $6.01. 499,912 shares of the stock traded hands. The company’s 50 day moving average price is $6.16 and its 200 day moving average price is $6.69. The firm has a market cap of $637.00 million, a PE ratio of 14.99 and a beta of 2.17. Costamare has a 12 month low of $5.07 and a 12 month high of $8.18.
Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.23 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue was down 12.5% on a year-over-year basis. Equities research analysts predict that Costamare will post $0.81 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Monday, October 23rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend is Friday, October 20th. Costamare’s dividend payout ratio (DPR) is presently 105.27%.
Institutional investors and hedge funds have recently modified their holdings of the business. Chicago Equity Partners LLC increased its stake in shares of Costamare by 2,091.9% in the 2nd quarter. Chicago Equity Partners LLC now owns 227,960 shares of the shipping company’s stock worth $1,666,000 after acquiring an additional 217,560 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Costamare by 15,719.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock worth $19,019,000 after acquiring an additional 2,585,258 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Costamare by 125.2% in the 2nd quarter. Acadian Asset Management LLC now owns 685,085 shares of the shipping company’s stock worth $5,009,000 after acquiring an additional 380,884 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Costamare in the 2nd quarter worth $1,032,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Costamare by 31.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 180,923 shares of the shipping company’s stock worth $1,322,000 after acquiring an additional 42,787 shares during the last quarter. 26.95% of the stock is owned by institutional investors and hedge funds.
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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