ValuEngine lowered shares of COSTAMARE INC/SH (NYSE:CMRE) from a sell rating to a strong sell rating in a report released on Thursday, ValuEngine reports.
CMRE has been the subject of several other research reports. Citigroup cut shares of COSTAMARE INC/SH from a neutral rating to a sell rating and boosted their price objective for the company from $6.50 to $7.50 in a research note on Friday, November 1st. TheStreet raised shares of COSTAMARE INC/SH from a c rating to a b rating in a research note on Wednesday, December 11th. Finally, Zacks Investment Research cut shares of COSTAMARE INC/SH from a strong-buy rating to a hold rating in a research note on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. COSTAMARE INC/SH has a consensus rating of Hold and a consensus price target of $7.50.
NYSE:CMRE traded down $0.08 during mid-day trading on Thursday, hitting $7.84. 967,335 shares of the stock traded hands, compared to its average volume of 1,160,783. The business’s 50-day moving average price is $9.63 and its 200 day moving average price is $7.28. The company has a market cap of $935.99 million, a PE ratio of 17.33 and a beta of 2.29. COSTAMARE INC/SH has a 12-month low of $4.61 and a 12-month high of $10.85. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.99.
COSTAMARE INC/SH (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, October 23rd. The shipping company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.19 by $0.07. The company had revenue of $123.37 million during the quarter, compared to analysts’ expectations of $116.48 million. COSTAMARE INC/SH had a net margin of 18.02% and a return on equity of 8.70%. COSTAMARE INC/SH’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. Analysts anticipate that COSTAMARE INC/SH will post 0.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Tuesday, January 21st will be paid a $0.10 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.40 dividend on an annualized basis and a yield of 5.10%. COSTAMARE INC/SH’s dividend payout ratio is presently 95.24%.
Hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in COSTAMARE INC/SH by 2.9% in the 3rd quarter. State Street Corp now owns 853,773 shares of the shipping company’s stock worth $5,182,000 after buying an additional 24,187 shares in the last quarter. California Public Employees Retirement System grew its stake in COSTAMARE INC/SH by 55.7% in the 3rd quarter. California Public Employees Retirement System now owns 23,490 shares of the shipping company’s stock worth $143,000 after buying an additional 8,400 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in COSTAMARE INC/SH in the 3rd quarter worth approximately $272,000. Morgan Stanley grew its stake in COSTAMARE INC/SH by 7.7% in the 2nd quarter. Morgan Stanley now owns 1,733,893 shares of the shipping company’s stock worth $8,894,000 after buying an additional 124,597 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in COSTAMARE INC/SH by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 144,116 shares of the shipping company’s stock worth $739,000 after buying an additional 4,621 shares in the last quarter. 21.08% of the stock is owned by institutional investors and hedge funds.
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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