Brokerages Set Costamare Inc (CMRE) Target Price at $7.00

Costamare Inc (NYSE:CMRE) has been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.00.

A number of research analysts recently weighed in on CMRE shares. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Monday, April 2nd.

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Shares of CMRE stock traded down $0.20 on Friday, reaching $6.64. The company’s stock had a trading volume of 478,514 shares, compared to its average volume of 470,171. Costamare has a 1 year low of $5.45 and a 1 year 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 $746.89, a PE ratio of 8.62 and a beta of 1.99.

Costamare (NYSE:CMRE) last posted its earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The firm had revenue of $99.20 million during the quarter, compared to analyst estimates of $97.52 million. During the same period last year, the firm posted $0.28 earnings per share. Costamare’s revenue for the quarter was down 8.9% compared to the same quarter last year. equities analysts predict that Costamare will post 0.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.02%. The ex-dividend date is Thursday, April 19th. Costamare’s payout ratio is 51.95%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highbridge Capital Management LLC purchased a new position in Costamare during the third quarter worth $124,000. Trexquant Investment LP purchased a new position in Costamare during the third quarter worth $194,000. American International Group Inc. boosted its stake in Costamare by 44.6% during the third quarter. American International Group Inc. now owns 32,784 shares of the shipping company’s stock worth $203,000 after buying an additional 10,111 shares during the period. American Century Companies Inc. purchased a new position in Costamare during the third quarter worth $203,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Costamare by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 29,117 shares of the shipping company’s stock worth $212,000 after buying an additional 5,912 shares during the period. 23.58% of the stock is owned by 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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