Costamare Inc. (CMRE) Downgraded by BidaskClub
Costamare Inc. (NYSE:CMRE) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
CMRE has been the topic of a number of other reports. Zacks Investment Research lowered shares of Costamare from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 29th. ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group raised shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research note on Monday, May 1st. TheStreet raised shares of Costamare from a “d+” rating to a “c” rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Costamare in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Costamare has a consensus rating of “Hold” and a consensus price target of $8.50.
Shares of Costamare (NYSE:CMRE) traded down 1.32% during trading on Wednesday, hitting $6.73. 540,213 shares of the stock were exchanged. Costamare has a 52 week low of $5.07 and a 52 week high of $10.45. The stock has a market cap of $616.39 million, a P/E ratio of 11.22 and a beta of 2.24. The firm’s 50 day moving average price is $6.90 and its 200-day moving average price is $6.60.
Costamare (NYSE:CMRE) last posted its quarterly earnings data on Thursday, April 27th. The shipping company reported $0.23 EPS for the quarter, beating the Zacks’ 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 company 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 EPS. The company’s quarterly revenue was down 12.3% on a year-over-year basis. On average, analysts predict that Costamare will post $0.80 EPS for the current year.
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Several hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake 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 in the last quarter. Sei Investments Co. purchased a new stake in shares of Costamare during the first quarter valued at approximately $137,000. Fox Run Management L.L.C. purchased a new stake in shares of Costamare during the first quarter valued at approximately $139,000. Federated Investors Inc. PA increased its stake 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 in the last quarter. Finally, Brandes Investment Partners LP purchased a new stake in shares of Costamare during the first quarter valued at approximately $147,000. Institutional investors own 18.53% 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.
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