StockNews.com Upgrades Costamare (NYSE:CMRE) to Buy

Costamare (NYSE:CMRE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st.

Costamare Trading Down 2.4 %

NYSE:CMRE opened at $11.83 on Thursday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 3.93 and a beta of 1.33. Costamare has a one year low of $10.14 and a one year high of $17.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The business’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $13.80.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The company had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. During the same period in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Costamare will post 2.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Costamare

Several institutional investors and hedge funds have recently made changes to their positions in CMRE. Sei Investments Co. acquired a new position in Costamare in the second quarter worth $674,000. Marshall Wace LLP boosted its holdings in shares of Costamare by 985.5% in the 2nd quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock valued at $5,875,000 after buying an additional 324,618 shares during the period. AQR Capital Management LLC boosted its holdings 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 valued at $1,275,000 after buying an additional 31,896 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Costamare by 408.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock valued at $1,947,000 after buying an additional 95,196 shares during the last quarter. Finally, Creative Planning raised its stake in Costamare by 5.2% during the second quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock worth $905,000 after acquiring an additional 2,703 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Company Profile