Costamare Inc. (CMRE) Rating Lowered to Sell at BidaskClub
Costamare Inc. (NYSE:CMRE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Several other brokerages have also weighed in on CMRE. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price objective on shares of Costamare in a report on Friday, July 14th. ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Costamare currently has a consensus rating of “Hold” and a consensus price target of $7.21.
Shares of Costamare (NYSE:CMRE) opened at 6.01 on Friday. The stock has a market capitalization of $637.00 million, a PE ratio of 14.99 and a beta of 2.17. Costamare has a 12 month low of $5.07 and a 12 month high of $8.18. The company has a 50-day moving average of $6.16 and a 200-day moving average of $6.69.
Costamare (NYSE:CMRE) last announced its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, equities research analysts expect that Costamare will post $0.81 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of CMRE. Nationwide Fund Advisors lifted its position in shares of Costamare by 4.0% in the 1st quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock worth $560,000 after buying an additional 3,211 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Costamare by 37.3% in the 1st quarter. Wells Fargo & Company MN now owns 190,228 shares of the shipping company’s stock worth $1,267,000 after buying an additional 51,687 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Costamare by 33.4% in the 1st quarter. Bank of New York Mellon Corp now owns 93,261 shares of the shipping company’s stock worth $622,000 after buying an additional 23,348 shares during the last quarter. Sei Investments Co. bought a new position in shares of Costamare in the 1st quarter worth about $137,000. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Costamare by 16.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 808,691 shares of the shipping company’s stock worth $5,386,000 after buying an additional 113,445 shares during the last quarter. Institutional investors own 26.95% of the company’s stock.
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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