The stock of Costamare Inc (NYSE:CMRE) is a huge mover today! About 159,225 shares traded hands. Costamare Inc (NYSE:CMRE) has declined 19.08% since March 7, 2016 and is downtrending. It has underperformed by 26.68% the S&P500.
The move comes after 9 months positive chart setup for the $560.18M company. It was reported on Oct, 10 by Barchart.com. We have $12.84 PT which if reached, will make NYSE:CMRE worth $375.32 million more.
Analysts await Costamare Inc (NYSE:CMRE) to report earnings on October, 19. They expect $0.36 earnings per share, down 21.74% or $0.10 from last year’s $0.46 per share. CMRE’s profit will be $26.22 million for 5.34 P/E if the $0.36 EPS becomes a reality. After $0.42 actual earnings per share 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), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Costamare has been the topic of 6 analyst reports since December 18, 2015 according to StockzIntelligence Inc. Barclays Capital reinitiated it with “Equal Weight” rating and $11.0 target price in Monday, January 11 report. The stock of Costamare Inc (NYSE:CMRE) earned “Neutral” rating by Credit Suisse on Friday, January 29. The stock of Costamare Inc (NYSE:CMRE) has “Underweight” rating given on Friday, December 18 by JP Morgan. Morgan Stanley downgraded it to “Equal-Weight” rating and $7.50 target price in Thursday, June 30 report. JP Morgan upgraded the shares of CMRE in a report on Wednesday, October 5 to “Overweight” rating.
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 important recent Costamare Inc (NYSE:CMRE) news were published by: Seekingalpha.com which released: “Costamare Inc.: Pure Arbitrage Trade That Continues To Exist” on October 05, 2016, also Fool.com published article titled: “Dividend Concerns Sink Costamare Inc’s Stock”, Seekingalpha.com published: “Costamare Inc.: Another Preferred Dividend Opportunity Revisited – An Update” on September 16, 2016. More interesting news about Costamare Inc (NYSE:CMRE) was released by: Marketwired.com and their article: “Costamare Inc. Announces Availability of Its Annual Report on Form 20-F for …” with publication date: April 27, 2016.
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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