Zacks Investment Research Upgrades Costamare Inc. (CMRE) to “Hold”

Costamare Inc. (NYSE:CMRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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. “

CMRE has been the subject of several other reports. ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Costamare from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Costamare in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.21.

Costamare (CMRE) opened at 6.08 on Thursday. The firm’s 50-day moving average price is $6.14 and its 200 day moving average price is $6.69. Costamare has a 1-year low of $5.07 and a 1-year high of $8.18. The firm has a market capitalization of $644.42 million, a price-to-earnings ratio of 15.16 and a beta of 2.17.

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, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts predict that Costamare will post $0.79 EPS for the current year.

WARNING: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/14/zacks-investment-research-upgrades-costamare-inc-cmre-to-hold.html.

Several institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Costamare during the 2nd quarter worth $467,000. Koch Industries Inc. acquired a new position in shares of Costamare during the 2nd quarter worth $181,000. Verition Fund Management LLC acquired a new position in shares of Costamare during the 2nd quarter worth $225,000. Chiron Investment Management LLC acquired a new position in shares of Costamare during the 2nd quarter worth $6,850,000. Finally, California State Teachers Retirement System raised its holdings in shares of Costamare by 7.1% during the 2nd quarter. California State Teachers Retirement System now owns 64,793 shares of the shipping company’s stock worth $474,000 after buying an additional 4,300 shares in the last quarter. 26.95% of the stock is owned by institutional investors.

About Costamare

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 opera

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. “

CMRE has been the subject of several other reports. ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Costamare from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Costamare in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.21.

Costamare (CMRE) opened at 6.08 on Thursday. The firm’s 50-day moving average price is $6.14 and its 200 day moving average price is $6.69. Costamare has a 1-year low of $5.07 and a 1-year high of $8.18. The firm has a market capitalization of $644.42 million, a price-to-earnings ratio of 15.16 and a beta of 2.17.

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, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. On average, analysts predict that Costamare will post $0.79 EPS for the current year.

WARNING: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/14/zacks-investment-research-upgrades-costamare-inc-cmre-to-hold.html.

Several institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Costamare during the 2nd quarter worth $467,000. Koch Industries Inc. acquired a new position in shares of Costamare during the 2nd quarter worth $181,000. Verition Fund Management LLC acquired a new position in shares of Costamare during the 2nd quarter worth $225,000. Chiron Investment Management LLC acquired a new position in shares of Costamare during the 2nd quarter worth $6,850,000. Finally, California State Teachers Retirement System raised its holdings in shares of Costamare by 7.1% during the 2nd quarter. California State Teachers Retirement System now owns 64,793 shares of the shipping company’s stock worth $474,000 after buying an additional 4,300 shares in the last quarter. 26.95% of the stock is owned by institutional investors.

About Costamare

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.

Analyst Recommendations for Costamare (NYSE:CMRE)

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