Costamare (CMRE) – Research Analysts’ Weekly Ratings Updates
Several brokerages have updated their recommendations and price targets on shares of Costamare (NYSE: CMRE) in the last few weeks:
- 10/5/2016 – Costamare was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $13.00 price target on the stock, up previously from $12.00. They wrote, “The company also announced it refinanced $360 million of bullet payments that were due in Q2 and Q3/2018. While there are still two smaller bullet payments in 2018, the fact that these refinancing were down well ahead of the maturities gives us confidence that the remaining refinancing should be relatively routine.”
- 10/4/2016 – Costamare was downgraded by analysts at Stifel Nicolaus from a “hold” rating to a “sell” rating. They now have a $5.00 price target on the stock, down previously from $10.00.
- 10/3/2016 – Costamare was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
- 10/3/2016 – Costamare had its price target lowered by analysts at Barclays PLC from $11.00 to $10.00. They now have an “equal weight” rating on the stock.
- 9/27/2016 – Costamare was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
Shares of Costamare Inc. (NYSE:CMRE) traded up 0.66% during midday trading on Wednesday, hitting $7.59. The stock had a trading volume of 307,298 shares. The firm has a 50 day moving average of $8.75 and a 200-day moving average of $9.12. Costamare Inc. has a one year low of $6.01 and a one year high of $15.10. The company has a market cap of $574.54 million, a P/E ratio of 4.61 and a beta of 1.67.
Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Costamare had a net margin of 29.87% and a return on equity of 15.03%. The business had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $119.37 million. During the same quarter last year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts forecast that Costamare Inc. will post $1.54 earnings per share for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/costamare-cmre-research-analysts-weekly-ratings-updates.html
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Friday, October 21st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $0.40 dividend on an annualized basis and a yield of 5.27%. Costamare’s dividend payout ratio is currently 70.30%.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.