Costamare Inc (NYSE:CMRE) currently trades at $5.32 which is about -11.48% lower than the 52-week high of $11.00. The trading volume at ready counter moved to 2.71M shares as compared to 779,409.00 shares average traded volume. The stock failed to get pushed above the $6.02 barrier, the intraday high, after opening at $6.00. Analysts have a consensus target price of $7.58 in the 12-month period. Its market capitalization has now reached to $489.22M.

Costamare Inc (NYSE:CMRE) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus Hold rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 4 have assigned a hold rating, Zero says it’s a buy and 1 has assigned a strong buy rating to the company.

Costamare Inc (CMRE) on January 27, 2017 reported unaudited financial results for the fourth quarter and year ended December 31, 2016.

  • Voyage revenues adjusted on a cash basis of $107.3 million and $460.5 million for the three-months and the year ended December 31, 2016, respectively.
  • Adjusted Net income available to common stockholders of $23.0 million or $0.28 per share and $115.1 million or $1.49 per share for the three-months and the year ended December 31, 2016, respectively.

New Business Developments

  1. New charter agreements
  • The Company entered into the following charter arrangements:
  • Agreed to extend the charter of the 2000-built, 4,890 TEU containerships
  • Oakland Express, Singapore Express and Halifax Express with Hapag- Lloyd at a daily rate of $5,500 starting from December 1, 2016. The duration of the extension shall be for a period of 7 to 13 months for two of the vessels and 3 to 13 months for the other vessel at the charterers’ option.
  • Agreed to charter the 1998-built, 3,842 TEU containership Itea to ACL, for consecutive round voyages for a period expiring at the charterers’ option during the period from March 17, 2017 through April 21, 2017, at a daily rate of $6,000.
  • Agreed to extend the charter of the 2004-built, 2,586 TEU containership Lakonia with Evergreen for a period of 4 to 10 months, starting from February 4, 2017, at a daily rate of $5,800.
  • Agreed to charter the 1999-built, 2,526 TEU containership Elafonisos to MSC for a period expiring at the charterers’ option during the period from December 17, 2016 to April 2, 2017, starting from December 2, 2016, at a daily rate of $5,100.
  • Agreed to extend the charter of the 1991-built, 2,020 TEU containership MSC Pylos with MSC for a period of 11 to 13 months, starting from February 15, 2017, at a daily rate of $6,000.
  • Agreed to charter the 1996-built, 1,504 TEU containership Prosper to Sea Consortium for a period of 1 to 4 months starting from December 28, 2016, at a daily rate of $6,215.
  • Agreed to extend the charter of the 2000-built, 4,890 TEU containerships
  • Oakland Express, Singapore Express and Halifax Express with Hapag- Lloyd at a daily rate of $5,500 starting from December 1, 2016. The duration of the extension shall be for a period of 7 to 13 months for two of the vessels and 3 to 13 months for the other vessel at the charterers’ option.
  • Agreed to charter the 1998-built, 3,842 TEU containership Itea to ACL, for consecutive round voyages for a period expiring at the charterers’ option during the period from March 17, 2017 through April 21, 2017, at a daily rate of $6,000.
  • Agreed to extend the charter of the 2004-built, 2,586 TEU containership Lakonia with Evergreen for a period of 4 to 10 months, starting from February 4, 2017, at a daily rate of $5,800.