Costamare Inc. (CMRE) PT Set at $7.00 by Credit Suisse Group
Costamare Inc. (NYSE:CMRE) has been given a $7.00 price target by investment analysts at Credit Suisse Group in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the shipping company’s stock. Credit Suisse Group’s price target indicates a potential upside of 15.70% from the company’s previous close.
CMRE has been the subject of several other research reports. Zacks Investment Research raised Costamare from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Tuesday, September 26th. ValuEngine downgraded Costamare from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded Costamare from a “hold” rating to a “sell” rating in a report on Saturday, October 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.04.
Costamare (CMRE) traded up 0.83% during trading on Wednesday, hitting $6.05. 1,260,049 shares of the stock were exchanged. Costamare has a 1-year low of $5.07 and a 1-year high of $8.18. The firm’s 50 day moving average price is $6.11 and its 200-day moving average price is $6.67. The stock has a market cap of $641.24 million, a price-to-earnings ratio of 15.09 and a beta of 2.17.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $98.40 million during the quarter, compared to the consensus estimate of $100.24 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, analysts anticipate that Costamare will post $0.78 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkwood LLC bought a new stake in Costamare in the 2nd quarter valued at $103,000. Voya Investment Management LLC bought a new stake in Costamare in the 2nd quarter valued at $105,000. American International Group Inc. raised its stake in Costamare by 7.9% in the 1st quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 1,202 shares during the period. Penn Capital Management Co. Inc. bought a new stake in Costamare in the 2nd quarter valued at $125,000. Finally, Sei Investments Co. bought a new stake in Costamare in the 1st quarter valued at $137,000. Institutional investors and hedge funds own 26.36% of the company’s stock.
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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