Costamare Inc. (NYSE:CMRE) Upgraded at BidaskClub

BidaskClub upgraded shares of Costamare Inc. (NYSE:CMRE) from a hold rating to a buy rating in a report published on Thursday.

Other analysts also recently issued reports about the stock. TheStreet raised shares of Costamare from a d+ rating to a c rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of Costamare from a strong sell rating to a hold rating in a research report on Wednesday, March 15th. ValuEngine downgraded shares of Costamare from a buy rating to a hold rating in a report on Friday, June 2nd. Stifel Nicolaus set a $7.00 price objective on shares of Costamare and gave the stock a hold rating in a report on Sunday, May 28th. Finally, Credit Suisse Group raised shares of Costamare from an underperform rating to a neutral rating and set a $8.00 price objective for the company in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $8.50.

Shares of Costamare (CMRE) traded up 2.54% during trading on Thursday, hitting $7.28. 73,954 shares of the company’s stock were exchanged. Costamare has a 1-year low of $5.07 and a 1-year high of $10.45. The stock’s 50 day moving average is $7.02 and its 200 day moving average is $6.45. The firm has a market capitalization of $666.77 million, a PE ratio of 12.13 and a beta of 2.24.

Costamare (NYSE:CMRE) last posted its earnings results on Thursday, April 27th. The shipping company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $105.52 million during the quarter, compared to the consensus estimate of $103.41 million. Costamare had a net margin of 15.38% and a return on equity of 10.50%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities research analysts forecast that Costamare will post $0.90 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Monday, July 24th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Thursday, July 20th. Costamare’s dividend payout ratio is currently 64.52%.

Several hedge funds have recently bought and sold shares of the company. American International Group Inc. increased its stake in shares of Costamare by 7.9% in the first quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock worth $109,000 after buying an additional 1,202 shares during the period. Federated Investors Inc. PA increased its stake in shares of Costamare by 9.5% in the fourth quarter. Federated Investors Inc. PA now owns 21,531 shares of the shipping company’s stock worth $121,000 after buying an additional 1,862 shares during the period. Sei Investments Co. bought a new stake in shares of Costamare during the first quarter worth $137,000. Fox Run Management L.L.C. bought a new stake in shares of Costamare during the first quarter worth $139,000. Finally, Brandes Investment Partners LP bought a new stake in shares of Costamare during the first quarter worth $147,000. 18.55% of the stock is owned by institutional investors and hedge funds.

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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