Zacks Investment Research upgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. They currently have $6.25 price objective on the shipping company’s stock.

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 analysts have also recently issued research reports about the company. TheStreet cut WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. ValuEngine cut Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $7.08.

Shares of NYSE CMRE opened at $5.44 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average is $5.26. COSTAMARE INC/SH has a fifty-two week low of $4.20 and a fifty-two week high of $7.94. The company has a market capitalization of $611.80 million, a PE ratio of 12.95, a P/E/G ratio of 2.09 and a beta of 2.09.

COSTAMARE INC/SH (NYSE:CMRE) last issued its quarterly earnings results on Monday, April 22nd. The shipping company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. COSTAMARE INC/SH had a net margin of 11.59% and a return on equity of 5.35%. The firm had revenue of $113.00 million for the quarter, compared to analysts’ expectations of $109.61 million. During the same period in the previous year, the business earned $0.12 earnings per share. COSTAMARE INC/SH’s revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts expect that COSTAMARE INC/SH will post 0.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be paid a $0.10 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.35%. COSTAMARE INC/SH’s dividend payout ratio is currently 95.24%.

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in COSTAMARE INC/SH by 0.5% during the 4th quarter. Northern Trust Corp now owns 490,786 shares of the shipping company’s stock valued at $2,155,000 after acquiring an additional 2,503 shares in the last quarter. Prudential Financial Inc. grew its stake in COSTAMARE INC/SH by 2.8% during the 4th quarter. Prudential Financial Inc. now owns 507,265 shares of the shipping company’s stock valued at $2,227,000 after acquiring an additional 14,025 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in COSTAMARE INC/SH by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,812,723 shares of the shipping company’s stock valued at $16,738,000 after acquiring an additional 163,812 shares in the last quarter. Globeflex Capital L P grew its stake in COSTAMARE INC/SH by 38.7% during the 4th quarter. Globeflex Capital L P now owns 637,727 shares of the shipping company’s stock valued at $2,800,000 after acquiring an additional 178,018 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in COSTAMARE INC/SH during the 4th quarter valued at about $394,000. 21.27% of the stock is currently owned by institutional investors.

About COSTAMARE INC/SH

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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