Costamare Inc (CMRE) Receives $7.67 Consensus Target Price from Analysts

Costamare Inc (NYSE:CMRE) has received an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.00.

A number of equities research analysts recently weighed in on the company. ValuEngine cut Costamare from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub raised Costamare from a “sell” rating to a “hold” rating in a report on Friday, October 20th. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group set a $7.00 price target on Costamare and gave the company a “hold” rating in a report on Wednesday, October 25th.

Shares of Costamare (NYSE CMRE) traded up $0.06 on Friday, hitting $6.43. The stock had a trading volume of 606,847 shares, compared to its average volume of 681,162. Costamare has a fifty-two week low of $5.45 and a fifty-two week high of $8.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $687.11, a PE ratio of 11.91, a PEG ratio of 1.75 and a beta of 2.10.

Costamare (NYSE:CMRE) last issued 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 return on equity of 7.28% and a net margin of 17.67%. The business had revenue of $99.20 million during the quarter, compared to analysts’ expectations of $97.52 million. During the same period in the prior year, the firm posted $0.28 EPS. Costamare’s quarterly revenue was down 8.9% compared to the same quarter last year. analysts anticipate that Costamare will post 0.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 6th. Investors of record on Tuesday, January 23rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, January 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 6.22%. Costamare’s dividend payout ratio is 74.07%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Costamare by 18.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 170,646 shares of the shipping company’s stock valued at $1,247,000 after buying an additional 26,124 shares during the last quarter. Wells Fargo & Company MN boosted its position in Costamare by 61.2% in the 3rd quarter. Wells Fargo & Company MN now owns 297,867 shares of the shipping company’s stock valued at $1,840,000 after buying an additional 113,059 shares during the last quarter. Alliancebernstein L.P. boosted its position in Costamare by 70.1% in the 2nd quarter. Alliancebernstein L.P. now owns 57,000 shares of the shipping company’s stock valued at $417,000 after buying an additional 23,500 shares during the last quarter. Prudential Financial Inc. boosted its position in Costamare by 27.9% in the 3rd quarter. Prudential Financial Inc. now owns 420,570 shares of the shipping company’s stock valued at $2,599,000 after buying an additional 91,650 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Costamare in the 3rd quarter valued at $337,000. 25.29% of the stock is owned by hedge funds and other institutional investors.

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About Costamare

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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