COSTAMARE INC/SH (NYSE:CMRE) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research downgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a strong-buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Costamare Inc. operates as a containership owner chartering its vessels to liner companies. The Company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports. It also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare Inc. is headquartered in Athens, Greece. “

Separately, TheStreet upgraded COSTAMARE INC/SH from a c rating to a b- rating in a report on Friday, June 26th.

NYSE:CMRE opened at $5.59 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.87 and a quick ratio of 0.83. COSTAMARE INC/SH has a 1 year low of $3.16 and a 1 year high of $10.85. The stock’s 50 day simple moving average is $4.93 and its two-hundred day simple moving average is $6.43. The company has a market cap of $665.95 million, a price-to-earnings ratio of 5.18 and a beta of 2.07.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings data on Wednesday, April 29th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. COSTAMARE INC/SH had a return on equity of 11.36% and a net margin of 27.42%. The business had revenue of $121.00 million for the quarter, compared to the consensus estimate of $123.80 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that COSTAMARE INC/SH will post 0.97 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in CMRE. State Street Corp lifted its holdings in COSTAMARE INC/SH by 8.8% during the 1st quarter. State Street Corp now owns 988,510 shares of the shipping company’s stock valued at $4,468,000 after buying an additional 79,700 shares in the last quarter. Royal Bank of Canada lifted its holdings in COSTAMARE INC/SH by 4.6% during the 1st quarter. Royal Bank of Canada now owns 53,105 shares of the shipping company’s stock valued at $240,000 after buying an additional 2,330 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in COSTAMARE INC/SH during the 1st quarter valued at about $119,000. Advisor Group Holdings Inc. bought a new stake in COSTAMARE INC/SH during the 1st quarter valued at about $75,000. Finally, Two Sigma Advisers LP lifted its holdings in COSTAMARE INC/SH by 26.2% during the 1st quarter. Two Sigma Advisers LP now owns 287,200 shares of the shipping company’s stock valued at $1,298,000 after buying an additional 59,600 shares in the last quarter. Hedge funds and other institutional investors own 27.87% of the company’s stock.

About COSTAMARE INC/SH

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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