BidaskClub Upgrades Costamare Inc. (CMRE) to Hold
Costamare Inc. (NYSE:CMRE) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
CMRE has been the subject of a number of other research reports. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. ValuEngine raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price objective on shares of Costamare in a report on Thursday, October 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Costamare currently has an average rating of “Hold” and an average price target of $7.21.
Costamare (CMRE) traded up 0.33% during trading on Friday, reaching $6.16. 490,810 shares of the company’s stock traded hands. The firm has a market capitalization of $652.90 million, a PE ratio of 15.36 and a beta of 2.17. The company has a 50-day moving average price of $6.12 and a 200 day moving average price of $6.67. Costamare has a one year low of $5.07 and a one year high of $8.18.
Costamare (NYSE:CMRE) last released its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, analysts anticipate that Costamare will post $0.79 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMRE. Parkwood LLC acquired a new position in Costamare in the second quarter valued at about $103,000. Voya Investment Management LLC acquired a new position in Costamare in the second quarter valued at about $105,000. American International Group Inc. lifted its position in 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. Penn Capital Management Co. Inc. acquired a new position in Costamare in the second quarter valued at about $125,000. Finally, Sei Investments Co. acquired a new position in Costamare in the first quarter valued at about $137,000. 26.95% of the stock is currently owned by institutional investors.
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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