COSTAMARE INC/SH (NYSE:CMRE) Lowered to Sell at ValuEngine

ValuEngine lowered shares of COSTAMARE INC/SH (NYSE:CMRE) from a hold rating to a sell rating in a research report released on Monday, February 4th.

A number of other research firms have also recently weighed in on CMRE. Morgan Stanley set a $8.00 price objective on COSTAMARE INC/SH and gave the stock a buy rating in a research report on Saturday, October 27th. Zacks Investment Research raised COSTAMARE INC/SH from a sell rating to a hold rating in a research report on Wednesday, November 28th.

Shares of CMRE traded down $0.07 during mid-day trading on Monday, reaching $5.13. The company’s stock had a trading volume of 287,131 shares, compared to its average volume of 322,321. COSTAMARE INC/SH has a 12-month low of $4.20 and a 12-month high of $8.39. The company has a market cap of $633.31 million, a P/E ratio of 12.21, a PEG ratio of 1.98 and a beta of 2.15. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.71 and a current ratio of 0.76.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings results on Wednesday, January 23rd. The shipping company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $103.90 million for the quarter, compared to the consensus estimate of $97.39 million. COSTAMARE INC/SH had a return on equity of 4.63% and a net margin of 17.68%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. As a group, analysts predict that COSTAMARE INC/SH will post 0.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 7th. Investors of record on Tuesday, January 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 18th. This represents a $0.40 annualized dividend and a yield of 7.80%. COSTAMARE INC/SH’s dividend payout ratio is presently 95.24%.

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in COSTAMARE INC/SH by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,812,723 shares of the shipping company’s stock worth $16,738,000 after purchasing an additional 163,812 shares during the last quarter. Legal & General Group Plc raised its holdings in COSTAMARE INC/SH by 130.6% during the fourth quarter. Legal & General Group Plc now owns 25,387 shares of the shipping company’s stock worth $112,000 after purchasing an additional 14,379 shares during the last quarter. Globeflex Capital L P raised its holdings in COSTAMARE INC/SH by 38.7% during the fourth quarter. Globeflex Capital L P now owns 637,727 shares of the shipping company’s stock worth $2,800,000 after purchasing an additional 178,018 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in COSTAMARE INC/SH during the fourth quarter worth $394,000. Finally, Bank of America Corp DE raised its holdings in COSTAMARE INC/SH by 42.1% during the fourth quarter. Bank of America Corp DE now owns 117,362 shares of the shipping company’s stock worth $515,000 after purchasing an additional 34,747 shares during the last quarter. 21.78% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Stock Selection – What is cash flow?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for COSTAMARE INC/SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for COSTAMARE INC/SH and related companies with MarketBeat.com's FREE daily email newsletter.