Zacks Investment Research downgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Costamare Inc. operates as a containership owner chartering its vessels to liner companies. The Company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports. It also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare Inc. is headquartered in Athens, Greece. “

Several other brokerages have also recently commented on CMRE. ValuEngine cut shares of Verso from a hold rating to a sell rating in a research report on Thursday, May 23rd. TheStreet cut shares of WESCO International from a b- rating to a c+ rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. COSTAMARE INC/SH presently has an average rating of Hold and a consensus price target of $7.08.

Shares of NYSE CMRE opened at $5.44 on Wednesday. COSTAMARE INC/SH has a 1-year low of $4.20 and a 1-year high of $7.94. The company has a market capitalization of $644.42 million, a P/E ratio of 12.95, a PEG ratio of 2.10 and a beta of 2.09. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.61. The business has a 50-day moving average of $5.26.

COSTAMARE INC/SH (NYSE:CMRE) last issued its quarterly earnings results on Monday, April 22nd. The shipping company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. COSTAMARE INC/SH had a net margin of 11.59% and a return on equity of 5.35%. The company had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $109.61 million. During the same quarter in the previous year, the company earned $0.12 EPS. COSTAMARE INC/SH’s revenue was up 21.5% on a year-over-year basis. As a group, research analysts expect that COSTAMARE INC/SH will post 0.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend is Friday, July 19th. COSTAMARE INC/SH’s dividend payout ratio is currently 95.24%.

A number of hedge funds and other institutional investors have recently modified their holdings of CMRE. Quantamental Technologies LLC acquired a new position in COSTAMARE INC/SH during the first quarter valued at approximately $26,000. BNP Paribas Arbitrage SA boosted its holdings in shares of COSTAMARE INC/SH by 469.8% in the first quarter. BNP Paribas Arbitrage SA now owns 10,382 shares of the shipping company’s stock valued at $54,000 after buying an additional 8,560 shares during the period. Two Sigma Investments LP acquired a new position in shares of COSTAMARE INC/SH in the fourth quarter valued at approximately $75,000. Commonwealth Equity Services LLC acquired a new position in shares of COSTAMARE INC/SH in the second quarter valued at approximately $75,000. Finally, Creative Planning acquired a new position in shares of COSTAMARE INC/SH in the first quarter valued at approximately $104,000. Hedge funds and other institutional investors own 21.27% of the company’s stock.

COSTAMARE INC/SH Company Profile

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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