BidaskClub downgraded shares of Costamare Inc. (NYSE:CMRE) from a hold rating to a sell rating in a research note issued to investors on Thursday, October 26th.
CMRE has been the topic of several other research reports. Zacks Investment Research upgraded Costamare from a sell rating to a hold rating in a research note on Tuesday, September 5th. ValuEngine raised shares of Costamare from a hold rating to a buy rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $7.00 price target on shares of Costamare in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $7.04.
Costamare (CMRE) traded down $0.14 during mid-day trading on Thursday, reaching $5.90. The company’s stock had a trading volume of 733,000 shares, compared to its average volume of 737,726. Costamare has a fifty-two week low of $5.07 and a fifty-two week high of $8.18. The firm has a market cap of $630.62, a P/E ratio of 6.70, a P/E/G ratio of 1.48 and a beta of 2.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.92.
Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Costamare had a return on equity of 7.57% and a net margin of 14.03%. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue was down 14.7% compared to the same quarter last year. equities research analysts expect that Costamare will post 0.8 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 23rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.78%. Costamare’s dividend payout ratio is currently 111.11%.
Several institutional investors have recently bought and sold shares of CMRE. JPMorgan Chase & Co. boosted its holdings in shares of Costamare by 15,719.7% during the second quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock worth $19,019,000 after purchasing an additional 2,585,258 shares during the period. Q Global Advisors LLC bought a new position in Costamare in the second quarter worth about $7,227,000. Chiron Investment Management LLC bought a new position in Costamare in the second quarter worth about $6,850,000. Dimensional Fund Advisors LP bought a new position in Costamare in the second quarter worth about $6,356,000. Finally, Thrivent Financial For Lutherans raised its stake in Costamare by 199,200.0% in the second quarter. Thrivent Financial For Lutherans now owns 398,600 shares of the shipping company’s stock worth $2,913,000 after buying an additional 398,400 shares in the last quarter. Institutional investors own 26.29% 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.
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