Costamare Inc. (NYSE:CMRE) had its target price reduced by analysts at Barclays PLC from $11.00 to $10.00 in a research report issued on Monday, StockTargetPrices.com reports. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s target price indicates a potential upside of 9.41% from the stock’s current price.
A number of other equities analysts also recently weighed in on CMRE. Zacks Investment Research downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. Clarkson Capital downgraded Costamare from a “buy” rating to a “neutral” rating in a research report on Friday, June 17th. Credit Suisse Group AG set a $9.00 price target on Costamare and gave the stock a “hold” rating in a research report on Thursday, July 28th. Morgan Stanley downgraded Costamare from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $12.00 to $7.50 in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. raised Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 price target for the company in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Costamare has a consensus rating of “Hold” and a consensus target price of $10.14.
Shares of Costamare (NYSE:CMRE) traded down 2.52% during midday trading on Monday, hitting $8.91. 64,482 shares of the stock traded hands. The firm’s 50 day moving average price is $9.04 and its 200 day moving average price is $9.19. The company has a market capitalization of $674.46 million, a PE ratio of 5.41 and a beta of 1.66. Costamare has a 12-month low of $6.01 and a 12-month high of $15.10.
Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Costamare had a return on equity of 15.03% and a net margin of 29.87%. The business earned $117.90 million during the quarter, compared to analyst estimates of $119.37 million. During the same period in the previous year, the firm earned $0.46 EPS. Costamare’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts expect that Costamare will post $1.57 EPS for the current year.
Large investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. boosted its stake in Costamare by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 120,069 shares of the company’s stock worth $1,069,000 after buying an additional 546 shares during the period. JPMorgan Chase & Co. acquired a new stake in Costamare during the first quarter worth $1,078,000. Bogle Investment Management L P DE boosted its stake in Costamare by 5.0% in the first quarter. Bogle Investment Management L P DE now owns 190,385 shares of the company’s stock worth $1,694,000 after buying an additional 9,076 shares during the period. Creative Planning boosted its stake in Costamare by 1,572.9% in the second quarter. Creative Planning now owns 23,420 shares of the company’s stock worth $180,000 after buying an additional 22,020 shares during the period. Finally, James Investment Research Inc. acquired a new stake in Costamare during the second quarter worth $1,378,000. Institutional investors and hedge funds own 15.13% of the company’s stock.
Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.
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