COSTAMARE INC/SH (NYSE:CMRE) Raised to “B” at TheStreet

TheStreet upgraded shares of COSTAMARE INC/SH (NYSE:CMRE) from a c rating to a b rating in a report released on Wednesday morning, TheStreetRatingsTable reports.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of COSTAMARE INC/SH from a hold rating to a buy rating and set a $7.00 price objective on the stock in a research report on Tuesday, October 8th. Citigroup cut shares of COSTAMARE INC/SH from a neutral rating to a sell rating and boosted their price objective for the company from $6.50 to $7.50 in a research report on Friday, November 1st. Finally, ValuEngine upgraded shares of COSTAMARE INC/SH from a strong sell rating to a sell rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $7.50.

CMRE stock opened at $9.23 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. COSTAMARE INC/SH has a twelve month low of $4.20 and a twelve month high of $9.48. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 21.98 and a beta of 2.27. The firm’s fifty day simple moving average is $8.16 and its two-hundred day simple moving average is $6.34.

COSTAMARE INC/SH (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, October 23rd. The shipping company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. COSTAMARE INC/SH had a net margin of 18.02% and a return on equity of 8.70%. The business had revenue of $123.37 million for the quarter, compared to analysts’ expectations of $116.48 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business’s revenue was up 37.9% compared to the same quarter last year. As a group, equities research analysts expect that COSTAMARE INC/SH will post 0.88 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of COSTAMARE INC/SH in the second quarter worth about $67,000. Trexquant Investment LP purchased a new position in shares of COSTAMARE INC/SH in the 2nd quarter valued at approximately $71,000. Commonwealth Equity Services LLC purchased a new position in shares of COSTAMARE INC/SH in the 2nd quarter valued at approximately $75,000. Stevens Capital Management LP purchased a new position in shares of COSTAMARE INC/SH in the 2nd quarter valued at approximately $137,000. Finally, California Public Employees Retirement System raised its position in shares of COSTAMARE INC/SH by 55.7% in the 3rd quarter. California Public Employees Retirement System now owns 23,490 shares of the shipping company’s stock valued at $143,000 after purchasing an additional 8,400 shares during the last quarter. Hedge funds and other institutional investors own 21.08% of the company’s stock.

COSTAMARE INC/SH Company Profile

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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