Shares of Costamare Inc. (NYSE:CMRE) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.96.
A number of equities analysts have commented on the stock. Credit Suisse Group AG set a $9.00 price objective on shares of Costamare and gave the stock a “hold” rating in a report on Thursday, July 28th. Vetr downgraded shares of Costamare from a “strong-buy” rating to a “buy” rating and set a $11.32 price objective for the company. in a report on Thursday, June 9th. Zacks Investment Research downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. JPMorgan Chase & Co. raised shares of Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 price target for the company in a report on Monday, August 1st. Finally, Clarkson Capital downgraded shares of Costamare from a “buy” rating to a “neutral” rating in a report on Friday, June 17th.
Costamare (NYSE:CMRE) traded down 19.01% during trading on Tuesday, reaching $7.33. 1,523,680 shares of the company’s stock traded hands. Costamare has a 12 month low of $6.01 and a 12 month high of $15.10. The stock has a market capitalization of $554.86 million, a P/E ratio of 4.45 and a beta of 1.66. The company has a 50-day moving average of $9.04 and a 200 day moving average of $9.19.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm earned $117.90 million during the quarter, compared to the consensus estimate of $119.37 million. Costamare had a net margin of 29.87% and a return on equity of 15.03%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, equities research analysts expect that Costamare will post $1.57 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Alliancebernstein L.P. bought a new stake in Costamare during the second quarter valued at $103,000. American International Group Inc. bought a new stake in Costamare during the second quarter valued at $117,000. Nationwide Fund Advisors bought a new stake in Costamare during the second quarter valued at $127,000. Nuveen Fund Advisors LLC bought a new stake in Costamare during the second quarter valued at $143,000. Finally, Quantitative Systematic Strategies LLC increased its stake in Costamare by 60.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,563 shares of the company’s stock valued at $156,000 after buying an additional 6,584 shares during the last quarter. 15.13% of the stock is owned by institutional investors and hedge funds.
Costamare Company Profile
Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.
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