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

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

Separately, Jefferies Financial Group restated a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th.

Costamare Stock Up 1.0 %

CMRE stock opened at $10.35 on Thursday. Costamare has a fifty-two week low of $9.66 and a fifty-two week high of $17.58. The business’s 50 day moving average price is $11.50 and its two-hundred day moving average price is $13.04. 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 market capitalization of $1.24 billion, a price-to-earnings ratio of 4.24 and a beta of 1.31.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. As a group, analysts forecast that Costamare will post 2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Costamare

A number of institutional investors have recently bought and sold shares of CMRE. US Bancorp DE grew its position in shares of Costamare by 1,385.2% during the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock valued at $186,000 after purchasing an additional 11,040 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Costamare by 37.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 292,879 shares of the shipping company’s stock valued at $4,604,000 after purchasing an additional 79,381 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Costamare by 34.2% during the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock valued at $930,000 after purchasing an additional 15,092 shares in the last quarter. Lifestyle Asset Management Inc. purchased a new position in shares of Costamare during the third quarter valued at about $332,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Costamare by 9.7% during the third quarter. Los Angeles Capital Management LLC now owns 160,579 shares of the shipping company’s stock valued at $2,524,000 after purchasing an additional 14,198 shares in the last quarter. 58.08% of the stock is owned by institutional investors.

About Costamare