Exclusive: What Next for Costamare Inc Stock After Today’s Big Decline?

Exclusive: What Next for Costamare Inc Stock After Today's Big Decline?

The stock of Costamare Inc (NYSE:CMRE) is a huge mover today! About 1.68M shares traded hands or 677.81% up from the average. Costamare Inc (NYSE:CMRE) has risen 18.77% since March 1, 2016 and is uptrending. It has outperformed by 9.52% the S&P500.
The move comes after 7 months negative chart setup for the $545.36 million company. It was reported on Oct, 4 by Barchart.com. We have $6.72 PT which if reached, will make NYSE:CMRE worth $43.63 million less.

Analysts await Costamare Inc (NYSE:CMRE) to report earnings on October, 19. They expect $0.36 EPS, down 21.74% or $0.10 from last year’s $0.46 per share. CMRE’s profit will be $26.89M for 5.07 P/E if the $0.36 EPS becomes a reality. After $0.42 actual EPS reported by Costamare Inc for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

Costamare Inc (NYSE:CMRE) Ratings Coverage

Out of 4 analysts covering Costamare (NYSE:CMRE), 0 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 0 are positive. Costamare has been the topic of 5 analyst reports since December 18, 2015 according to StockzIntelligence Inc. The stock has “Underweight” rating given by JP Morgan on Friday, December 18. The firm earned “Neutral” rating on Friday, January 29 by Credit Suisse. The rating was reinitiated by Barclays Capital on Monday, January 11 with “Equal Weight”. The stock of Costamare Inc (NYSE:CMRE) has “Equal-Weight” rating given on Thursday, June 30 by Morgan Stanley.

According to Zacks Investment Research, “Costamare Inc. operates as a containership owner chartering its vessels to liner companies. The Company deploys its containership fleet principally under multi-year time charters with leading liner companies that operate regularly scheduled routes between large commercial ports. It also provides a range of shipping services, such as technical support and maintenance, insurance consulting, financial and accounting services. Costamare Inc. is headquartered in Athens, Greece.”

More notable recent Costamare Inc (NYSE:CMRE) news were published by: Fool.com which released: “Dividend Concerns Sink Costamare Inc’s Stock” on June 30, 2016, also Hellenicshippingnews.com with their article: “Costamare Inc. (CMRE) Downgraded to “Sell” at Zacks Investment Research” published on September 28, 2016, Marketwatch.com published: “Plus the latest data from Realtor.com on 21 home markets across the US” on November 10, 2010. More interesting news about Costamare Inc (NYSE:CMRE) were released by: Seekingalpha.com and their article: “Costamare Inc.: Another Preferred Dividend Opportunity Revisited – An Update” published on September 16, 2016 as well as Quotes.Wsj.com‘s news article titled: “Costamare Inc. CMRE (US: NYSE)” with publication date: February 11, 2011.

CMRE Company Profile

Costamare Inc. (Costamare), incorporated on April 21, 2008, is an international owner of containerships. The Firm provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters.

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