Costamare Inc. (CMRE) Downgraded to “Buy” at ValuEngine

ValuEngine lowered shares of Costamare Inc. (NYSE:CMRE) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Several other research firms also recently commented on CMRE. BidaskClub downgraded shares of Costamare from a buy rating to a hold rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Costamare from a sell rating to a hold rating in a research report on Monday, August 28th. Finally, Stifel Nicolaus restated a hold rating and issued a $7.00 price target on shares of Costamare in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $7.04.

Shares of Costamare (CMRE) traded down $0.11 during trading hours on Wednesday, reaching $5.49. 703,400 shares of the company’s stock traded hands, compared to its average volume of 830,663. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.92. Costamare has a twelve month low of $5.07 and a twelve month high of $8.18. The stock has a market capitalization of $596.72, a P/E ratio of 6.36, a P/E/G ratio of 1.41 and a beta of 2.14.

Costamare (NYSE:CMRE) last released its earnings results on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. research analysts expect that Costamare will post 0.8 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Monday, October 23rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.29%. The ex-dividend date was Friday, October 20th. Costamare’s dividend payout ratio is presently 111.11%.

A number of institutional investors and hedge funds have recently made changes to their positions in CMRE. JPMorgan Chase & Co. increased its position in Costamare by 15,719.7% during the second quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock valued at $19,019,000 after acquiring an additional 2,585,258 shares during the last quarter. Q Global Advisors LLC bought a new position in Costamare during the second quarter valued at $7,227,000. Chiron Investment Management LLC bought a new position in Costamare during the second quarter valued at $6,850,000. Dimensional Fund Advisors LP bought a new position in Costamare during the second quarter valued at $6,356,000. Finally, Thrivent Financial For Lutherans increased its position in Costamare by 199,200.0% during the second quarter. Thrivent Financial For Lutherans now owns 398,600 shares of the shipping company’s stock valued at $2,913,000 after acquiring an additional 398,400 shares during the last quarter. Institutional investors own 25.98% of the company’s stock.

Costamare Company Profile

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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