Costamare (CMRE) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Costamare (NYSE:CMRE) from a hold rating to a buy rating in a research note issued to investors on Friday.

Separately, Zacks Investment Research raised shares of Costamare from a sell rating to a buy rating and set a $6.50 price target on the stock in a report on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $6.83.

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Shares of CMRE stock opened at $6.73 on Friday. Costamare has a 1 year low of $5.45 and a 1 year high of $8.18. The firm has a market cap of $721.78, a P/E ratio of 8.74 and a beta of 1.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.82.

Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The business had revenue of $99.20 million for the quarter, compared to analyst estimates of $97.52 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Costamare’s revenue was down 8.9% compared to the same quarter last year. analysts predict that Costamare will post 0.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, April 19th. Costamare’s dividend payout ratio (DPR) is presently 51.95%.

A number of institutional investors have recently made changes to their positions in the business. Highbridge Capital Management LLC acquired a new stake in shares of Costamare in the 3rd quarter valued at $124,000. American International Group Inc. boosted its stake in shares of Costamare by 44.6% in the 3rd quarter. American International Group Inc. now owns 32,784 shares of the shipping company’s stock valued at $203,000 after purchasing an additional 10,111 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Costamare in the 3rd quarter valued at $255,000. Unison Advisors LLC acquired a new stake in shares of Costamare in the 4th quarter valued at $244,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Costamare by 42.4% in the 3rd quarter. GSA Capital Partners LLP now owns 52,874 shares of the shipping company’s stock valued at $327,000 after purchasing an additional 15,739 shares in the last quarter. 23.58% of the stock is currently owned by hedge funds and other institutional investors.

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About Costamare

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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