Stock of The Day: Does Costamare Inc Have Any Gas After Today’s Huge Decline?

Stock of The Day: Does Costamare Inc Have Any Gas After Today's Huge Decline?

The stock of Costamare Inc (NYSE:CMRE) is a huge mover today! About 7.04M shares traded hands or 1718.48% 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.
The move comes after 5 months negative chart setup for the $397.18 million company. It was reported on Nov, 30 by Barchart.com. We have $5.47 PT which if reached, will make NYSE:CMRE worth $11.92M less.

Analysts await Costamare Inc (NYSE:CMRE) to report earnings on January, 25. They expect $0.30 earnings per share, down 31.82% or $0.14 from last year’s $0.44 per share. CMRE’s profit will be $21.13 million for 4.70 P/E if the $0.30 EPS becomes a reality. After $0.37 actual earnings per share 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. Costamare has been the topic of 6 analyst reports since December 18, 2015 according to StockzIntelligence Inc. Credit Suisse maintained the stock with “Neutral” rating in Friday, January 29 report. The company was reinitiated on Monday, January 11 by Barclays Capital. The company was initiated on Friday, December 18 by JP Morgan. The firm has “Overweight” rating given on Wednesday, October 5 by JP Morgan. On Thursday, June 30 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”.

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: “Why Costamare Inc. Stock Slumped 15% Today” on November 30, 2016, also Fool.com with their article: “Dividend Concerns Sink Costamare Inc’s Stock” published on June 30, 2016, Marketwatch.com published: “Costamare Inc. Announces Implementation of Dividend Reinvestment Plan” on July 06, 2016. More interesting news about Costamare Inc (NYSE:CMRE) were released by: Seekingalpha.com and their article: “Costamare Inc.: Pure Arbitrage Trade That Continues To Exist” published on October 05, 2016 as well as Seekingalpha.com‘s news article titled: “Costamare, Inc.: Another Preferred Dividend Opportunity Revisited” with publication date: May 31, 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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