COSTAMARE Inc/SH (NYSE:CMRE) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other brokerages have also issued reports on CMRE. Zacks Investment Research lowered shares of COSTAMARE Inc/SH from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Morgan Stanley upped their target price on shares of COSTAMARE Inc/SH from $7.70 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Finally, Wells Fargo & Co cut their target price on shares of COSTAMARE Inc/SH from $8.50 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.95.

NYSE:CMRE traded down $0.26 during midday trading on Tuesday, hitting $6.77. The company had a trading volume of 540,700 shares, compared to its average volume of 490,446. COSTAMARE Inc/SH has a 52-week low of $5.45 and a 52-week high of $8.39. The firm has a market capitalization of $767.64 million, a PE ratio of 8.79 and a beta of 1.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.80.

COSTAMARE Inc/SH (NYSE:CMRE) last announced its earnings results on Tuesday, July 24th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. COSTAMARE Inc/SH had a net margin of 15.65% and a return on equity of 5.96%. The company had revenue of $90.60 million during the quarter, compared to analyst estimates of $90.98 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. sell-side analysts forecast that COSTAMARE Inc/SH will post 0.47 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Raymond James & Associates bought a new stake in COSTAMARE Inc/SH in the second quarter worth $106,000. Renaissance Technologies LLC lifted its stake in COSTAMARE Inc/SH by 75.8% in the second quarter. Renaissance Technologies LLC now owns 1,437,400 shares of the shipping company’s stock worth $11,470,000 after purchasing an additional 619,700 shares during the last quarter. Federated Investors Inc. PA lifted its stake in COSTAMARE Inc/SH by 46,343.3% in the second quarter. Federated Investors Inc. PA now owns 328,354 shares of the shipping company’s stock worth $2,620,000 after purchasing an additional 327,647 shares during the last quarter. Globeflex Capital L P lifted its stake in COSTAMARE Inc/SH by 98.4% in the second quarter. Globeflex Capital L P now owns 341,689 shares of the shipping company’s stock worth $2,727,000 after purchasing an additional 169,463 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in COSTAMARE Inc/SH by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,299,750 shares of the shipping company’s stock worth $26,332,000 after purchasing an additional 185,475 shares during the last quarter. Institutional investors own 25.98% of the company’s stock.

COSTAMARE Inc/SH Company Profile

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.

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