ValuEngine Upgrades Costamare (CMRE) to Strong-Buy

Costamare (NYSE:CMRE) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also weighed in on CMRE. BidaskClub upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research report on Tuesday, September 26th. Credit Suisse Group set a $7.00 target price on shares of Costamare and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $7.00 target price on shares of Costamare in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.04.

Shares of Costamare (NYSE CMRE) traded up $0.16 during trading hours on Friday, reaching $5.91. 705,422 shares of the company’s stock were exchanged, compared to its average volume of 599,708. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.92. The company has a market capitalization of $631.69, a price-to-earnings ratio of 6.72, a PEG ratio of 1.56 and a beta of 2.12. Costamare has a 12-month low of $5.07 and a 12-month high of $8.18.

Costamare (NYSE:CMRE) last issued its earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $98.40 million during 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 company’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. sell-side analysts expect that Costamare will post 0.76 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Parkwood LLC bought a new position in shares of Costamare in the second quarter valued at approximately $103,000. Voya Investment Management LLC bought a new position in shares of Costamare in the second quarter valued at approximately $105,000. FNY Partners Fund LP bought a new position in shares of Costamare in the third quarter valued at approximately $106,000. American International Group Inc. boosted its position in shares of 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 acquiring an additional 1,202 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in shares of Costamare in the third quarter valued at approximately $124,000. Institutional investors own 25.79% of the company’s stock.

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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.

Analyst Recommendations for Costamare (NYSE:CMRE)

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