COSTAMARE INC/SH (NYSE:CMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $6.25 price target on the shipping company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.61% from the company’s current price.
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 a number of other reports. TheStreet downgraded WESCO International from a “b-” rating to a “c+” rating in a report on Friday, May 24th. ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.08.
Shares of COSTAMARE INC/SH stock traded up $0.01 on Tuesday, reaching $5.55. 288,200 shares of the stock were exchanged, compared to its average volume of 302,550. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.61 and a quick ratio of 0.56. COSTAMARE INC/SH has a twelve month low of $4.20 and a twelve month high of $7.94. The company has a market capitalization of $623.03 million, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.04 and a beta of 2.10. The company has a 50 day simple moving average of $5.24.
COSTAMARE INC/SH (NYSE:CMRE) last released its earnings results on Monday, April 22nd. The shipping company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.03. COSTAMARE INC/SH had a return on equity of 5.35% and a net margin of 11.59%. The firm had revenue of $113.00 million during the quarter, compared to the consensus estimate of $109.61 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. On average, research analysts predict that COSTAMARE INC/SH will post 0.55 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in COSTAMARE INC/SH by 0.5% in the fourth quarter. Northern Trust Corp now owns 490,786 shares of the shipping company’s stock valued at $2,155,000 after acquiring an additional 2,503 shares during the period. Quantamental Technologies LLC acquired a new position in COSTAMARE INC/SH in the first quarter valued at approximately $26,000. California Public Employees Retirement System lifted its holdings in COSTAMARE INC/SH by 31.5% in the fourth quarter. California Public Employees Retirement System now owns 24,435 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 5,852 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of COSTAMARE INC/SH by 469.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,382 shares of the shipping company’s stock worth $54,000 after buying an additional 8,560 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in shares of COSTAMARE INC/SH by 18.0% during the 1st quarter. Cullen Frost Bankers Inc. now owns 57,920 shares of the shipping company’s stock worth $301,000 after buying an additional 8,833 shares during the period. 21.27% of the stock is owned by institutional investors.
About COSTAMARE INC/SH
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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