Jefferies Financial Group Reaffirms “Hold” Rating for Costamare (NYSE:CMRE)

Costamare (NYSE:CMRE)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Financial Group in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $13.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price points to a potential upside of 21.77% from the company’s previous close.

Separately, StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a research note on Friday, January 31st.

Costamare Price Performance

Shares of Costamare stock opened at $10.68 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $12.53 and its two-hundred day moving average price is $13.57. Costamare has a 52 week low of $10.44 and a 52 week high of $17.58. The stock has a market cap of $1.26 billion, a PE ratio of 3.55 and a beta of 1.31.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 19.11% and a return on equity of 14.28%. As a group, sell-side analysts anticipate that Costamare will post 2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Costamare

A number of large investors have recently added to or reduced their stakes in CMRE. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Costamare by 87.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock worth $7,071,000 after buying an additional 257,422 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Costamare during the third quarter worth approximately $4,032,000. Raymond James Financial Inc. acquired a new position in shares of Costamare during the fourth quarter worth approximately $1,399,000. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Costamare by 41.6% during the third quarter. Horizon Kinetics Asset Management LLC now owns 323,000 shares of the shipping company’s stock worth $5,078,000 after buying an additional 94,900 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Costamare by 577.2% during the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock worth $1,200,000 after buying an additional 65,040 shares during the last quarter. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile