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. “
A number of other equities research analysts have also recently commented on CMRE. Vetr cut Costamare from a strong-buy rating to a buy rating and set a $11.32 price objective for the company. in a research note on Thursday, June 9th. Clarkson Capital cut Costamare from a buy rating to a neutral rating in a research note on Friday, June 17th. Morgan Stanley cut Costamare from an overweight rating to an equal weight rating and reduced their price objective for the company from $12.00 to $7.50 in a research note on Thursday, June 30th. Credit Suisse Group AG set a $9.00 price objective on Costamare and gave the company a hold rating in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. raised Costamare from an underweight rating to a neutral rating and set a $12.00 price objective for the company in a research note on Monday, August 1st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $10.14.
Costamare (NYSE:CMRE) opened at 9.05 on Monday. The company’s 50 day moving average price is $9.04 and its 200-day moving average price is $9.19. Costamare has a 12-month low of $6.01 and a 12-month high of $15.10. The firm has a market capitalization of $685.06 million, a price-to-earnings ratio of 5.49 and a beta of 1.66.
Costamare (NYSE:CMRE) last released 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 return on equity of 15.03% and a net margin of 29.87%. The business earned $117.90 million during the quarter, compared to analysts’ expectations of $119.37 million. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts anticipate that Costamare will post $1.57 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its stake 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 worth $1,069,000 after buying an additional 546 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Costamare during the first quarter worth approximately $1,078,000. Bogle Investment Management L P DE raised its stake 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 worth $1,694,000 after buying an additional 9,076 shares during the period. Creative Planning raised its stake in shares of 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 shares of Costamare during the second quarter worth approximately $1,378,000. Institutional investors own 15.13% of the company’s stock.
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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