Brokerage firm JP Morgan Upgrades its rating on Costamare Inc(NYSE:CMRE). The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by JP Morgan was issued on Aug 1, 2016.
In a different note, On Jun 30, 2016, Morgan Stanley said it Downgrades its rating on Costamare Inc. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Equal-weight’ by the firm.
Costamare Inc (CMRE) made into the market gainers list on Mondays trading session with the shares advancing 1.64% or 0.15 points. Due to strong positive momentum, the stock ended at $9.31, which is also near the day’s high of $9.39. The stock began the session at $9.1 and the volume stood at 1,79,807 shares. The 52-week high of the shares is $17.06 and the 52 week low is $6.01. The company has a current market capitalization of $702 M and it has 7,53,98,400 shares in outstanding.
Costamare Inc(CMRE) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $119.53M. Analysts had an estimated revenue of $119.37M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.40.
Costamare Inc. (Costamare) is an international owner of containerships. The Company provides worldwide marine transportation services by chartering its container vessels to the liner operators under long medium and short-term time charters. As of February 27 2015 the Company had a fleet of 68 containerships with a total capacity in excess of 447000 twenty foot equivalent unit (TEU) including nine new builds on order. The Company’s containerships operate primarily under long-term fixed-rate time charters. The Company’s fleet of vessels includes COSCO GUANGZHOU COSCO NINGBO COSCO YANTIAN VANTAGE MSC MANDRAKI and ZIM NEW YORK among others. As of February 27 2015 the average (weighted by TEU capacity) remaining time-charter duration for its fleet of 68 containerships was approximately 4.5 years based on the remaining fixed terms and assuming the exercise of any owner’s options and the non-exercise of any charterer’s options under its containerships’ charters.