Costamare Inc. (CMRE) Stock Rating Lowered by ValuEngine
Costamare Inc. (NYSE:CMRE) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub cut shares of Costamare from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Credit Suisse Group set a $7.00 price objective on shares of Costamare and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Costamare in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.04.
Shares of Costamare (NYSE:CMRE) traded down $0.11 during trading hours on Wednesday, hitting $5.49. 703,400 shares of the stock were exchanged, compared to its average volume of 830,663. The company has a market cap of $618.87, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 1.45 and a beta of 2.14. Costamare has a 1 year low of $5.07 and a 1 year high of $8.18. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.87.
Costamare (NYSE:CMRE) last issued its quarterly earnings results on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The firm 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%. The business’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 earned $0.37 EPS. research analysts forecast that Costamare will post 0.8 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Parkwood LLC purchased a new stake in Costamare during the 2nd quarter valued at $103,000. Voya Investment Management LLC purchased a new stake in Costamare during the 2nd quarter valued at $105,000. American International Group Inc. boosted its position in Costamare by 7.9% during the 1st 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 period. Penn Capital Management Co. Inc. purchased a new stake in Costamare during the 2nd quarter valued at $125,000. Finally, FNY Partners Fund LP purchased a new stake in Costamare during the 3rd quarter valued at $106,000. 25.98% of the stock is 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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