COSTAMARE INC/SH (NYSE:CMRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

A number of other brokerages have also commented on CMRE. Morgan Stanley set a $8.00 price target on COSTAMARE INC/SH and gave the company a “buy” rating in a research note on Friday, February 15th. ValuEngine lowered COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research note on Friday, March 1st.

COSTAMARE INC/SH stock traded down $0.11 during midday trading on Monday, reaching $5.63. 210,522 shares of the stock traded hands, compared to its average volume of 313,514. COSTAMARE INC/SH has a 12 month low of $4.20 and a 12 month high of $8.39. The firm has a market cap of $645.54 million, a PE ratio of 13.40, a PEG ratio of 2.31 and a beta of 2.17. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

COSTAMARE INC/SH (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, January 23rd. The shipping company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. COSTAMARE INC/SH had a return on equity of 4.75% and a net margin of 17.68%. The company had revenue of $103.90 million during the quarter, compared to analyst estimates of $97.39 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that COSTAMARE INC/SH will post 0.5 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CMRE. Two Sigma Investments LP purchased a new stake in shares of COSTAMARE INC/SH in the fourth quarter worth approximately $75,000. California Public Employees Retirement System boosted its position in COSTAMARE INC/SH by 31.5% during the 4th 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 in the last quarter. Legal & General Group Plc boosted its position in COSTAMARE INC/SH by 130.6% during the 4th quarter. Legal & General Group Plc now owns 25,387 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 14,379 shares in the last quarter. GSA Capital Partners LLP bought a new stake in COSTAMARE INC/SH during the 4th quarter valued at $124,000. Finally, Stevens Capital Management LP bought a new stake in COSTAMARE INC/SH during the 4th quarter valued at $136,000. 21.38% 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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