According to Zacks, “Costamare Inc. operates as a containership owner chartering its vessels to liner companies. The Company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports. It also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare Inc. is headquartered in Athens, Greece. “
CMRE has been the subject of several other reports. JPMorgan Chase & Co. upgraded shares of Costamare from an underweight rating to a neutral rating and set a $12.00 target price for the company in a report on Monday, August 1st. Credit Suisse Group AG set a $9.00 price target on shares of Costamare and gave the stock a hold rating in a report on Thursday, July 28th. Vetr cut shares of Costamare from a strong-buy rating to a buy rating and set a $11.32 price target for the company. in a report on Thursday, June 9th. Morgan Stanley cut shares of Costamare from an overweight rating to an equal weight rating and decreased their price target for the stock from $12.00 to $7.50 in a report on Thursday, June 30th. Finally, Clarkson Capital cut shares of Costamare from a buy rating to a neutral rating in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $10.30.
Costamare (NYSE:CMRE) opened at 9.14 on Tuesday. Costamare has a 52 week low of $6.01 and a 52 week high of $15.10. The stock has a market capitalization of $691.87 million, a P/E ratio of 5.55 and a beta of 1.66. The stock has a 50 day moving average of $9.04 and a 200 day moving average of $9.19.
Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Costamare had a net margin of 29.87% and a return on equity of 15.03%. The company earned $117.90 million during the quarter, compared to analysts’ expectations of $119.37 million. During the same period last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Costamare will post $1.57 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Barnett & Company Inc. raised its position in shares of Costamare by 0.9% in the second quarter. Barnett & Company Inc. now owns 33,750 shares of the company’s stock valued at $259,000 after buying an additional 300 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Costamare by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 120,069 shares of the company’s stock valued at $1,069,000 after buying an additional 546 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in shares of Costamare by 60.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,563 shares of the company’s stock valued at $156,000 after buying an additional 6,584 shares during the last quarter. Bogle Investment Management L P DE raised its position in shares of Costamare by 5.0% in the first quarter. Bogle Investment Management L P DE now owns 190,385 shares of the company’s stock valued at $1,694,000 after buying an additional 9,076 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA raised its position in shares of Costamare by 22.4% in the second quarter. San Francisco Sentry Investment Group CA now owns 68,270 shares of the company’s stock valued at $524,000 after buying an additional 12,485 shares during the last quarter. 15.13% of the stock is currently owned by hedge funds and other institutional investors.
Costamare Company Profile
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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