Costamare Inc. (NYSE:CMRE) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research analysts have also issued reports on CMRE. BidaskClub lowered Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target on shares of Costamare in a report on Thursday, October 12th. Finally, Credit Suisse Group set a $7.00 price target on Costamare and gave the stock a “hold” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.04.

Shares of Costamare (CMRE) traded up $0.11 during trading hours on Wednesday, reaching $5.60. The company’s stock had a trading volume of 566,400 shares, compared to its average volume of 829,473. The company has a market capitalization of $586.80, a price-to-earnings ratio of 6.24, a P/E/G ratio of 1.37 and a beta of 2.14. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. Costamare has a 1-year low of $5.07 and a 1-year high of $8.18.

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

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Institutional investors have recently modified their holdings of the company. American International Group Inc. increased its position in shares of Costamare by 7.9% during the first quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 1,202 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Costamare by 8.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 45,100 shares of the shipping company’s stock valued at $330,000 after acquiring an additional 3,500 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Costamare by 14.1% during the first quarter. HighTower Advisors LLC now owns 31,686 shares of the shipping company’s stock valued at $211,000 after acquiring an additional 3,910 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Costamare by 18.2% during the second quarter. Brandes Investment Partners LP now owns 26,033 shares of the shipping company’s stock valued at $190,000 after acquiring an additional 4,000 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Costamare by 7.1% during the second quarter. California State Teachers Retirement System now owns 64,793 shares of the shipping company’s stock valued at $474,000 after acquiring an additional 4,300 shares during the last quarter. 25.98% of the stock is owned by hedge funds and other institutional investors.

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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