Costamare (CMRE) Rating Lowered to Hold at ValuEngine

Costamare (NYSE:CMRE) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.83.

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Shares of CMRE stock traded up $0.17 during trading hours on Monday, hitting $6.41. 588,565 shares of the company were exchanged, compared to its average volume of 602,259. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.82. Costamare has a one year low of $5.45 and a one year high of $8.18. The stock has a market capitalization of $681.38, a price-to-earnings ratio of 8.32 and a beta of 1.99.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Tuesday, January 23rd. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The business had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $97.52 million. During the same quarter last year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. research analysts forecast that Costamare will post 0.72 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of CMRE. Vanguard Group Inc. lifted its holdings in Costamare by 19.8% in the second quarter. Vanguard Group Inc. now owns 73,736 shares of the shipping company’s stock worth $539,000 after acquiring an additional 12,165 shares during the last quarter. State Street Corp lifted its holdings in Costamare by 17.6% in the second quarter. State Street Corp now owns 564,606 shares of the shipping company’s stock worth $4,128,000 after acquiring an additional 84,590 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Costamare by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 29,117 shares of the shipping company’s stock worth $212,000 after acquiring an additional 5,912 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Costamare by 7.1% in the second quarter. California State Teachers Retirement System now owns 64,793 shares of the shipping company’s stock worth $474,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Costamare by 27.9% in the third quarter. Prudential Financial Inc. now owns 420,570 shares of the shipping company’s stock worth $2,599,000 after acquiring an additional 91,650 shares during the last quarter. 23.58% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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