Costamare Inc. (CMRE) Given Consensus Recommendation of “Hold” by Analysts
Shares of Costamare Inc. (NYSE:CMRE) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.10.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Costamare from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a report on Tuesday, September 26th. ValuEngine raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Credit Suisse Group set a $7.00 price target on shares of Costamare and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price target on shares of Costamare in a report on Friday, July 14th.
Costamare (NYSE:CMRE) last posted its earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $98.40 million for the quarter, compared to analyst estimates of $100.24 million. Costamare had a net margin of 14.03% and a return on equity of 7.57%. Costamare’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.40 annualized dividend and a yield of 6.44%. Costamare’s payout ratio is currently 111.11%.
Several large investors have recently bought and sold shares of CMRE. JPMorgan Chase & Co. lifted its position in Costamare by 15,719.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock valued at $19,019,000 after acquiring an additional 2,585,258 shares during the period. Q Global Advisors LLC purchased a new position in Costamare during the 2nd quarter valued at about $7,227,000. Chiron Investment Management LLC purchased a new position in Costamare during the 2nd quarter valued at about $6,850,000. Dimensional Fund Advisors LP purchased a new position in Costamare during the 2nd quarter valued at about $6,356,000. Finally, Thrivent Financial For Lutherans lifted its position in Costamare by 199,200.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 398,600 shares of the shipping company’s stock valued at $2,913,000 after acquiring an additional 398,400 shares during the period. 26.38% of the stock is owned by hedge funds and other 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.
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