Costamare Inc. (NYSE:CMRE) has received an average rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.50.

Several research firms have issued reports on CMRE. Stifel Nicolaus set a $7.00 price target on shares of Costamare and gave the stock a “hold” rating in a research report on Sunday, May 28th. TheStreet raised shares of Costamare from a “d+” rating to a “c” rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Credit Suisse Group raised shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price target on the stock in a research report on Monday, May 1st. Finally, ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

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Shares of Costamare (NYSE CMRE) traded up 0.88% on Tuesday, reaching $6.85. 784,535 shares of the company traded hands. The stock has a market cap of $627.38 million, a price-to-earnings ratio of 11.42 and a beta of 2.24. The stock has a 50 day moving average of $7.19 and a 200 day moving average of $6.40. Costamare has a 52-week low of $5.07 and a 52-week high of $10.45.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Thursday, April 27th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Costamare had a net margin of 15.38% and a return on equity of 10.50%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $103.41 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, analysts expect that Costamare will post $0.91 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its position 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 last quarter. Vanguard Group Inc. raised its position in shares of Costamare by 2.4% in the first quarter. Vanguard Group Inc. now owns 61,571 shares of the shipping company’s stock valued at $410,000 after buying an additional 1,429 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Costamare by 9.5% in the fourth quarter. Federated Investors Inc. PA now owns 21,531 shares of the shipping company’s stock valued at $121,000 after buying an additional 1,862 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Costamare by 4.0% in the first quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock valued at $560,000 after buying an additional 3,211 shares during the last quarter. Finally, State Street Corp raised its position in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock valued at $2,417,000 after buying an additional 3,614 shares during the last quarter. 18.55% of the stock is currently owned by institutional investors.

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)

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