Costamare (NYSE:CMRE) Shares Gap Down to $15.72

Costamare Inc. (NYSE:CMRE) gapped down before the market opened on Tuesday . The stock had previously closed at $15.72, but opened at $15.37. Costamare shares last traded at $15.46, with a volume of 13,063 shares trading hands.

Analyst Upgrades and Downgrades

CMRE has been the subject of a number of research reports. Jefferies Financial Group upped their price target on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their target price on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Price Performance

The business has a fifty day moving average of $14.06 and a 200 day moving average of $13.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.61 and a quick ratio of 1.54. The stock has a market cap of $1.81 billion, a PE ratio of 5.97 and a beta of 1.37.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. Sell-side analysts anticipate that Costamare Inc. will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On Costamare

Several large investors have recently modified their holdings of CMRE. Sanctuary Advisors LLC bought a new position in Costamare during the 2nd quarter worth approximately $185,000. B. Riley Wealth Advisors Inc. boosted its holdings in Costamare by 39.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,188 shares of the shipping company’s stock worth $266,000 after purchasing an additional 4,544 shares during the period. Creative Planning increased its stake in Costamare by 5.2% during the second quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock valued at $905,000 after purchasing an additional 2,703 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Costamare by 408.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock worth $1,947,000 after purchasing an additional 95,196 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Costamare by 69.8% in the 2nd quarter. AQR Capital Management LLC now owns 77,622 shares of the shipping company’s stock worth $1,275,000 after buying an additional 31,896 shares during the last quarter. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile