Brokerages Set Costamare Inc (CMRE) Price Target at $7.67
Costamare Inc (NYSE:CMRE) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.67.
Several research analysts recently commented on the stock. ValuEngine downgraded shares of Costamare from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Credit Suisse Group set a $7.00 price target on shares of Costamare and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, BidaskClub downgraded shares of Costamare from a “hold” rating to a “sell” rating in a report on Thursday, October 26th.
Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in Costamare by 18.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 170,646 shares of the shipping company’s stock valued at $1,247,000 after purchasing an additional 26,124 shares during the period. Wells Fargo & Company MN boosted its holdings in Costamare by 61.2% in the 3rd quarter. Wells Fargo & Company MN now owns 297,867 shares of the shipping company’s stock valued at $1,840,000 after purchasing an additional 113,059 shares during the period. Alliancebernstein L.P. boosted its holdings in Costamare by 70.1% in the 2nd quarter. Alliancebernstein L.P. now owns 57,000 shares of the shipping company’s stock valued at $417,000 after purchasing an additional 23,500 shares during the period. Prudential Financial Inc. boosted its holdings in Costamare by 27.9% in the 3rd quarter. Prudential Financial Inc. now owns 420,570 shares of the shipping company’s stock valued at $2,599,000 after purchasing an additional 91,650 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Costamare in the 3rd quarter valued at $337,000. 25.29% of the stock is owned by hedge funds and other institutional investors.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Tuesday, January 23rd. The shipping company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $99.20 million during the quarter, compared to the consensus estimate of $97.52 million. Costamare had a net margin of 17.67% and a return on equity of 7.28%. Costamare’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. equities analysts anticipate that Costamare will post 0.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 6th. Shareholders of record on Tuesday, January 23rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 6.45%. The ex-dividend date was Monday, January 22nd. Costamare’s payout ratio is 74.07%.
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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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