ValuEngine downgraded shares of Costamare Inc. (NYSE:CMRE) from a buy rating to a hold rating in a report published on Tuesday.
CMRE has been the subject of several other reports. Zacks Investment Research raised shares of Costamare from a sell rating to a hold rating in a research note on Thursday, April 27th. Credit Suisse Group raised shares of Costamare from an underperform rating to a neutral rating and set a $8.00 price objective for the company in a research note on Monday, May 1st. BidaskClub lowered shares of Costamare from a buy rating to a hold rating in a research note on Wednesday, July 19th. TheStreet raised shares of Costamare from a d+ rating to a c rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus set a $7.00 price objective on shares of Costamare and gave the stock a hold rating in a research note on Sunday, May 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $8.50.
Costamare (CMRE) traded up 0.31% during midday trading on Tuesday, reaching $6.50. 384,083 shares of the company were exchanged. The firm has a market capitalization of $595.33 million, a PE ratio of 10.83 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 has a 52 week low of $5.07 and a 52 week high of $10.45.
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 consensus estimate of $0.20 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. Costamare’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities analysts predict that Costamare will post $0.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.17%. Costamare’s dividend payout ratio (DPR) is 105.27%.
Several hedge funds have recently added to or reduced their stakes in the company. Parkwood LLC acquired a new stake in Costamare during the second quarter valued at $103,000. Acadian Asset Management LLC increased its stake in Costamare by 125.2% in the second quarter. Acadian Asset Management LLC now owns 685,085 shares of the shipping company’s stock valued at $5,009,000 after buying an additional 380,884 shares during the period. Russell Investments Group Ltd. increased its stake in Costamare by 31.0% in the second quarter. Russell Investments Group Ltd. now owns 180,923 shares of the shipping company’s stock valued at $1,322,000 after buying an additional 42,787 shares during the period. Adams Diversified Equity Fund Inc. acquired a new stake in Costamare during the second quarter valued at $1,032,000. Finally, Nisa Investment Advisors LLC increased its stake in Costamare by 230.5% in the second quarter. Nisa Investment Advisors LLC now owns 46,600 shares of the shipping company’s stock valued at $324,000 after buying an additional 32,500 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.
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.
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