The stock of Costamare Inc (NYSE:CMRE) hit a new 52-week low and has $5.34 target or 6.00% below today’s $5.68 share price. The 5 months bearish chart indicates high risk for the $399.64 million company. The 1-year low was reported on Nov, 30 by Barchart.com. If the $5.34 price target is reached, the company will be worth $23.98 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.76M shares traded hands or 1129.54% up from the average. Costamare Inc (NYSE:CMRE) has declined 32.28% since April 27, 2016 and is downtrending. It has underperformed by 37.51% the S&P500.
Analysts await Costamare Inc (NYSE:CMRE) to report earnings on January, 25. They expect $0.30 EPS, down 31.82% or $0.14 from last year’s $0.44 per share. CMRE’s profit will be $21.11 million for 4.73 P/E if the $0.30 EPS becomes a reality. After $0.37 actual EPS reported by Costamare Inc for the previous quarter, Wall Street now forecasts -18.92% 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. $13 is the highest target while $7.50 is the lowest. The $10.13 average target is 78.35% above today’s ($5.68) stock price. Costamare has been the topic of 6 analyst reports since December 18, 2015 according to StockzIntelligence Inc. The rating was maintained by Credit Suisse on Friday, January 29 with “Neutral”. On Wednesday, October 5 the stock rating was upgraded by JP Morgan to “Overweight”. The firm has “Underweight” rating by JP Morgan given on Friday, December 18. Morgan Stanley downgraded the shares of CMRE in a report on Thursday, June 30 to “Equal-Weight” rating. The firm has “Equal Weight” rating by Barclays Capital given on Monday, January 11.
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: Streetinsider.com which released: “Form 6-K Costamare Inc. For: Nov 30” on November 30, 2016, also Fool.com published article titled: “Dividend Concerns Sink Costamare Inc’s Stock”, Marketwatch.com published: “Costamare Inc. Announces Implementation of Dividend Reinvestment Plan” on July 06, 2016. More interesting news about Costamare Inc (NYSE:CMRE) was released by: Seekingalpha.com and their article: “Costamare Inc.: Pure Arbitrage Trade That Continues To Exist” with publication date: October 05, 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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