Costamare (NYSE:CMRE) Downgraded by StockNews.com to Hold

Costamare (NYSE:CMRE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

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

Costamare Stock Down 0.5 %

CMRE stock opened at $11.81 on Friday. 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 company has a fifty day moving average of $12.75 and a 200-day moving average of $13.70. The stock has a market capitalization of $1.39 billion, a PE ratio of 3.92 and a beta of 1.33.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, analysts expect that Costamare will post 2.79 EPS for the current year.

Institutional Investors Weigh In On Costamare

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in Costamare by 291.1% during the third quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock worth $928,000 after acquiring an additional 43,925 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Costamare by 577.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock worth $1,200,000 after purchasing an additional 65,040 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Costamare during the 3rd quarter worth approximately $886,000. Foundry Partners LLC purchased a new stake in Costamare in the 3rd quarter valued at approximately $4,032,000. Finally, State Street Corp lifted its stake in Costamare by 2.6% in the 3rd quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock valued at $19,082,000 after buying an additional 30,986 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile