Stifel Nicolaus Upgrades Costamare Inc to Hold

Brokerage firm Stifel Nicolaus Upgrades its rating on Costamare Inc(CMRE). The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by the stock financial advisor at Stifel Nicolaus was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 13, 2017, Wells Fargo said it Upgrades its rating on Costamare Inc. The shares have been rated ‘Outperform’ by the firm. Citigroup said it Initiates Coverage On Costamare Inc, according to a research note issued on Feb 7, 2017. The shares have been rated ‘Neutral’ by the firm. On Feb 1, 2017, Morgan Stanley said it Upgrades its rating on Costamare Inc. The shares have been rated ‘Overweight’ by the firm. On Jan 30, 2017, Credit Suisse said it Downgrades its rating on Costamare Inc. The shares have been rated ‘Underperform’ by the firm.

Costamare Inc (CMRE) shares turned negative on Wednesdays trading session with the shares closing down -0.1 points or -1.64% at a volume of 4,58,940. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.1332. The peak price level was also seen at $6.1332 while the days lowest was $5.99. Finally the shares closed at $6.01. The 52-week high of the shares is $11 while the 52-week low is $5.07. According to the latest information available, the market cap of the company is $466 M.

Costamare Inc(CMRE) last announced its earnings results on Jan 26, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $110.134M. Analysts had an estimated revenue of $111.230M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.3.

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.

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