How JP Morgan Currently Rates Costamare (NYSE:CMRE)
JP Morgan issued “Underweight” rating on Costamare (NYSE:CMRE). The firm initiated coverage on shares of CMRE in a comprehensive report shared with investors on Friday, 18 December.
The stock decreased 5.00% or $0.49 on December 17, striking $9.31. Approximately shares of stock traded hands. Costamare Inc (NYSE:CMRE) has declined 53.52% since May 15, 2015 and is downtrending. It has underperformed by 49.71% the S&P500.
Costamare Inc. is an international owner of containerships. The company has a market cap of $733.79 million. The Firm provides worldwide marine transportation services by chartering its container vessels to the liner operators under long, medium and short-term time charters. It has 5.79 P/E ratio. As of February 27, 2015, the Company had a fleet of 68 containerships with a total capacity in excess of 447,000 twenty foot equivalent unit (TEU), including nine new manufactures on order.
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.”