Costamare Inc. (NYSE:CMRE) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.10.

Several equities research analysts recently issued reports on CMRE shares. BidaskClub lowered shares of Costamare from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Credit Suisse Group set a $7.00 target price on shares of Costamare and gave the stock a “hold” rating in a report on Wednesday, October 25th. Stifel Nicolaus restated a “hold” rating and set a $7.00 price objective on shares of Costamare in a report on Friday, July 14th. Finally, ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

Several institutional investors have recently modified their holdings of CMRE. Parkwood LLC acquired a new stake in shares of Costamare during the 2nd quarter valued at about $103,000. Voya Investment Management LLC acquired a new stake in shares of Costamare during the 2nd quarter valued at about $105,000. American International Group Inc. boosted its position in shares of Costamare by 7.9% during the 1st quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 1,202 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in shares of Costamare during the 2nd quarter valued at about $125,000. Finally, Royal Bank of Canada boosted its position in shares of Costamare by 31.4% during the 2nd quarter. Royal Bank of Canada now owns 21,265 shares of the shipping company’s stock valued at $155,000 after acquiring an additional 5,081 shares in the last quarter. Institutional investors and hedge funds own 26.38% of the company’s stock.

Costamare (CMRE) traded up $0.05 during mid-day trading on Wednesday, hitting $6.05. 581,775 shares of the company traded hands, compared to its average volume of 683,245. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.96. Costamare has a 1-year low of $5.07 and a 1-year high of $8.18. The firm has a market cap of $647.56 million, a price-to-earnings ratio of 6.74, a PEG ratio of 1.49 and a beta of 2.14.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Tuesday, October 24th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The business had revenue of $98.40 million during the quarter, compared to analyst estimates of $100.24 million. During the same quarter in the previous year, the business earned $0.37 EPS. Costamare’s quarterly revenue was down 14.7% compared to the same quarter last year. sell-side analysts anticipate that Costamare will post 0.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, October 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.61%. Costamare’s payout ratio is 111.11%.

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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.

Analyst Recommendations for Costamare (NYSE:CMRE)

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