Shares of COSTAMARE Inc/SH (NYSE:CMRE) have earned an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.00.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of COSTAMARE Inc/SH from a “hold” rating to a “sell” rating in a report on Monday, October 1st. ValuEngine downgraded shares of COSTAMARE Inc/SH from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Morgan Stanley upped their price target on shares of COSTAMARE Inc/SH from $7.70 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. Finally, Wells Fargo & Co cut their price target on shares of COSTAMARE Inc/SH from $8.50 to $8.00 and set an “outperform” rating for the company in a report on Tuesday, July 31st.
Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in COSTAMARE Inc/SH in the 2nd quarter valued at about $106,000. Raymond James & Associates acquired a new stake in COSTAMARE Inc/SH in the 2nd quarter valued at about $106,000. Bienville Capital Management LLC acquired a new stake in COSTAMARE Inc/SH in the 2nd quarter valued at about $188,000. Creative Planning acquired a new stake in COSTAMARE Inc/SH in the 3rd quarter valued at about $180,000. Finally, Element Capital Management LLC acquired a new stake in COSTAMARE Inc/SH in the 1st quarter valued at about $213,000. 25.75% of the stock is owned by institutional investors.
COSTAMARE Inc/SH (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, October 24th. The shipping company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $89.45 million during the quarter, compared to the consensus estimate of $93.98 million. COSTAMARE Inc/SH had a net margin of 15.65% and a return on equity of 5.96%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. Equities analysts anticipate that COSTAMARE Inc/SH will post 0.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Tuesday, October 23rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date of this dividend is Monday, October 22nd. COSTAMARE Inc/SH’s payout ratio is 51.95%.
COSTAMARE Inc/SH Company Profile
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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