Costamare Inc. (CMRE) Cut to Hold at ValuEngine
Costamare Inc. (NYSE:CMRE) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub cut Costamare from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $7.00 price objective on shares of Costamare in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.50.
Costamare (NYSE:CMRE) traded up 1.75% during trading on Friday, reaching $6.38. The company had a trading volume of 336,689 shares. The firm has a market capitalization of $676.22 million, a price-to-earnings ratio of 15.91 and a beta of 2.22. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $6.72. Costamare has a 12 month low of $5.07 and a 12 month high of $9.54.
Costamare (NYSE:CMRE) last released its quarterly earnings data 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. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that Costamare will post $0.82 earnings per share for the current year.
Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Costamare by 15,719.7% in the second quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock worth $19,019,000 after buying an additional 2,585,258 shares during the last quarter. Morgan Stanley lifted its position in shares of Costamare by 13.8% in the first quarter. Morgan Stanley now owns 1,956,634 shares of the shipping company’s stock worth $13,032,000 after buying an additional 236,786 shares during the last quarter. Global X Management Co. LLC lifted its position in shares of Costamare by 4.8% in the second quarter. Global X Management Co. LLC now owns 1,491,375 shares of the shipping company’s stock worth $10,902,000 after buying an additional 67,642 shares during the last quarter. Q Global Advisors LLC acquired a new stake in shares of Costamare in the second quarter worth about $7,227,000. Finally, Chiron Investment Management LLC acquired a new stake in shares of Costamare in the second quarter worth about $6,850,000. 27.23% of the stock is 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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