COSTAMARE INC/SH (CMRE) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a sell rating to a hold rating in a research note released on Wednesday.

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 equities research analysts have also recently issued research reports about the stock. Wells Fargo & Co cut shares of COSTAMARE INC/SH from an outperform rating to a market perform rating and set a $7.00 price objective on the stock. in a report on Friday, September 28th. Morgan Stanley set a $8.00 price objective on shares of COSTAMARE INC/SH and gave the stock a buy rating in a report on Saturday, October 27th. Finally, ValuEngine cut shares of COSTAMARE INC/SH from a buy rating to a hold rating in a report on Tuesday, September 4th.

CMRE stock opened at $5.30 on Wednesday. COSTAMARE INC/SH has a 1 year low of $4.99 and a 1 year high of $8.39. The stock has a market capitalization of $627.39 million, a P/E ratio of 6.88, a P/E/G ratio of 2.49 and a beta of 2.00. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 0.70.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings results on Wednesday, October 24th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. COSTAMARE INC/SH had a net margin of 13.39% and a return on equity of 4.85%. The company had revenue of $89.45 million during the quarter, compared to the consensus estimate of $93.98 million. During the same period in the prior year, the firm earned $0.16 earnings per share. COSTAMARE INC/SH’s revenue was down 9.1% on a year-over-year basis. On average, equities analysts anticipate that COSTAMARE INC/SH will post 0.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Tuesday, October 23rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date of this dividend was Monday, October 22nd. COSTAMARE INC/SH’s dividend payout ratio (DPR) is presently 51.95%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates purchased a new stake in COSTAMARE INC/SH in the second quarter worth about $106,000. Acadian Asset Management LLC purchased a new stake in COSTAMARE INC/SH in the second quarter worth about $106,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in COSTAMARE INC/SH in the third quarter worth about $168,000. Creative Planning purchased a new stake in COSTAMARE INC/SH in the third quarter worth about $180,000. Finally, Bienville Capital Management LLC purchased a new stake in COSTAMARE INC/SH in the second quarter worth about $188,000. Institutional investors and hedge funds own 27.28% 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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