Stock of the Day: Will Costamare Inc Short Squeeze Soon?

Stock of the Day: Will Costamare Inc Short Squeeze Soon?

The stock of Costamare Inc (NYSE:CMRE) reached all time low today, Nov, 30 and still has $5.46 target or 4.00% below today’s $5.69 share price. This indicates more downside for the $400.70M company. This technical setup was reported by Barchart.com. If the $5.46 PT is reached, the company will be worth $16.03 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 5.31 million shares traded hands or 1271.61% 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 earnings per share, down 31.82% or $0.14 from last year’s $0.44 per share. CMRE’s profit will be $21.13M for 4.74 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. Morgan Stanley downgraded Costamare Inc (NYSE:CMRE) rating on Thursday, June 30. Morgan Stanley has “Equal-Weight” rating and $7.50 price target. On Friday, January 29 the stock rating was maintained by Credit Suisse with “Neutral”. The stock of Costamare Inc (NYSE:CMRE) earned “Equal Weight” rating by Barclays Capital on Monday, January 11. The firm has “Underweight” rating by JP Morgan given on Friday, December 18. The firm earned “Overweight” rating on Wednesday, October 5 by JP Morgan.

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 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 Marketwatch.com published the news titled: “Costamare Inc. Announces Implementation of Dividend Reinvestment Plan” on July 06, 2016. Seekingalpha.com‘s news article titled: “Costamare Inc.: Pure Arbitrage Trade That Continues To Exist” with publication date: October 05, 2016 was also an interesting one.

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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