Costamare Inc. (CMRE) Receives $8.50 Consensus PT from Brokerages
Shares of Costamare Inc. (NYSE:CMRE) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.50.
Several research analysts have commented on the stock. Stifel Nicolaus set a $7.00 price objective on shares of Costamare and gave the stock a “hold” rating in a research note on Sunday, May 28th. ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub lowered shares of Costamare from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a research note on Monday, August 28th.
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Shares of Costamare (NYSE CMRE) traded up 0.84% during midday trading on Tuesday, reaching $6.01. 251,820 shares of the company’s stock traded hands. The company has a market capitalization of $637.00 million, a price-to-earnings ratio of 14.99 and a beta of 2.22. The company has a 50-day moving average of $6.31 and a 200-day moving average of $6.71. Costamare has a one year low of $5.07 and a one year high of $9.54.
Costamare (NYSE:CMRE) last posted its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. Costamare’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 earnings per share. Equities research analysts anticipate that Costamare will post $0.82 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 2,585,258 shares during the period. Morgan Stanley boosted its stake in shares of Costamare by 13.8% during the first quarter. Morgan Stanley now owns 1,956,634 shares of the shipping company’s stock valued at $13,032,000 after purchasing an additional 236,786 shares during the period. Global X Management Co. LLC boosted its stake in shares of Costamare by 4.8% during the second quarter. Global X Management Co. LLC now owns 1,491,375 shares of the shipping company’s stock valued at $10,902,000 after purchasing an additional 67,642 shares during the period. Q Global Advisors LLC purchased a new stake in shares of Costamare during the second quarter valued at $7,227,000. Finally, Chiron Investment Management LLC purchased a new stake in shares of Costamare during the second quarter valued at $6,850,000. 26.96% of the stock is owned by hedge funds and other institutional investors.
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.
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