Stifel Nicolaus lowered shares of Costamare Inc. (NYSE:CMRE) from a hold rating to a sell rating in a research note released on Tuesday morning.
Several other research analysts also recently commented on CMRE. Zacks Investment Research raised shares of Costamare from a sell rating to a hold rating in a report on Monday. Barclays PLC lowered their price objective on shares of Costamare from $11.00 to $10.00 and set an equal weight rating on the stock in a research report on Monday. JPMorgan Chase & Co. upgraded shares of Costamare from an underweight rating to a neutral rating and set a $12.00 price objective on the stock in a research report on Monday, August 1st. Credit Suisse Group AG set a $9.00 price objective on shares of Costamare and gave the company a hold rating in a research report on Thursday, July 28th. Finally, Morgan Stanley cut shares of Costamare from an overweight rating to an equal weight rating and lowered their price objective for the company from $12.00 to $7.50 in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Costamare currently has a consensus rating of Hold and a consensus target price of $10.30.
Costamare (NYSE:CMRE) opened at 7.32 on Tuesday. The stock’s 50 day moving average is $8.98 and its 200 day moving average is $9.18. The firm has a market capitalization of $554.10 million, a P/E ratio of 4.44 and a beta of 1.67. Costamare has a one year low of $6.01 and a one year high of $15.10.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company earned $117.90 million during the quarter, compared to the consensus estimate of $119.37 million. Costamare had a net margin of 29.87% and a return on equity of 15.03%. Costamare’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. On average, equities research analysts predict that Costamare will post $1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Investors of record on Friday, October 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Wednesday, October 19th. Costamare’s payout ratio is presently 70.30%.
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Costamare by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 143,122 shares of the company’s stock worth $1,098,000 after buying an additional 21,965 shares during the last quarter. Barnett & Company Inc. boosted its position in shares of Costamare by 0.9% in the second quarter. Barnett & Company Inc. now owns 33,750 shares of the company’s stock worth $259,000 after buying an additional 300 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Costamare during the second quarter worth approximately $253,000. Boston Partners boosted its position in shares of Costamare by 9.8% in the second quarter. Boston Partners now owns 220,173 shares of the company’s stock worth $1,689,000 after buying an additional 19,577 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Costamare by 33.4% in the second quarter. California Public Employees Retirement System now owns 83,800 shares of the company’s stock worth $643,000 after buying an additional 21,000 shares during the last quarter. Institutional investors own 15.13% of the company’s stock.
Costamare Company Profile