Zacks Investment Research upgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a sell rating to a hold rating in a research report released on Monday morning, 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. “

Other analysts have also recently issued research reports about the company. ValuEngine raised COSTAMARE INC/SH from a sell rating to a hold rating in a research report on Tuesday, January 29th. Morgan Stanley set a $8.00 target price on COSTAMARE INC/SH and gave the stock a buy rating in a research report on Friday, February 15th.

CMRE opened at $5.76 on Monday. The firm has a market cap of $647.77 million, a PE ratio of 13.71, a P/E/G ratio of 2.28 and a beta of 2.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.82 and a quick ratio of 0.78. COSTAMARE INC/SH has a fifty-two week low of $4.20 and a fifty-two week high of $8.39.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings data on Wednesday, January 23rd. The shipping company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $103.90 million during the quarter, compared to analyst estimates of $97.39 million. COSTAMARE INC/SH had a return on equity of 4.75% and a net margin of 17.68%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. Equities research analysts forecast that COSTAMARE INC/SH will post 0.5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 22nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.40 annualized dividend and a dividend yield of 6.94%. COSTAMARE INC/SH’s dividend payout ratio (DPR) is presently 95.24%.

Several institutional investors have recently modified their holdings of CMRE. Two Sigma Investments LP acquired a new stake in shares of COSTAMARE INC/SH in the fourth quarter worth $75,000. California Public Employees Retirement System boosted its position in shares of COSTAMARE INC/SH by 31.5% in the fourth quarter. California Public Employees Retirement System now owns 24,435 shares of the shipping company’s stock worth $107,000 after buying an additional 5,852 shares during the period. Legal & General Group Plc boosted its position in shares of COSTAMARE INC/SH by 130.6% in the fourth quarter. Legal & General Group Plc now owns 25,387 shares of the shipping company’s stock worth $112,000 after buying an additional 14,379 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of COSTAMARE INC/SH in the fourth quarter worth $124,000. Finally, Stevens Capital Management LP purchased a new stake in shares of COSTAMARE INC/SH during the fourth quarter worth $136,000. 21.38% of the stock is owned by institutional investors and hedge funds.

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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