Costamare Inc. (NYSE:CMRE) has been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.50.
CMRE has been the topic of a number of recent research reports. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Credit Suisse Group upgraded Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 target price on the stock in a report on Monday, May 1st. TheStreet upgraded Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Stifel Nicolaus set a $7.00 target price on Costamare and gave the stock a “hold” rating in a report on Sunday, May 28th. Finally, ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkwood LLC purchased a new position in shares of Costamare during the second quarter worth approximately $103,000. American International Group Inc. increased 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 worth $109,000 after buying an additional 1,202 shares during the period. Federated Investors Inc. PA increased its position in shares of Costamare by 9.5% in the fourth quarter. Federated Investors Inc. PA now owns 21,531 shares of the shipping company’s stock worth $121,000 after buying an additional 1,862 shares during the period. Sei Investments Co. purchased a new position in shares of Costamare during the first quarter worth approximately $137,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Costamare during the first quarter worth approximately $139,000. Institutional investors and hedge funds own 18.49% of the company’s stock.
Costamare (NYSE:CMRE) opened at 6.50 on Tuesday. Costamare has a one year low of $5.07 and a one year high of $9.84. The firm has a market cap of $628.13 million, a P/E ratio of 16.21 and a beta of 2.24. The company has a 50-day moving average of $6.89 and a 200 day moving average of $6.61.
Costamare (NYSE:CMRE) last posted its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts expect that Costamare will post $0.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 24th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.15%. Costamare’s dividend payout ratio is 105.27%.
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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.
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