StockNews.com Downgrades Costamare (NYSE:CMRE) to Hold

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

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st.

Costamare Trading Up 0.6 %

Shares of NYSE:CMRE opened at $13.52 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 5.24 and a beta of 1.37. Costamare has a 1-year low of $8.54 and a 1-year high of $17.58. The company has a 50 day moving average price of $14.19 and a 200 day moving average price of $14.22.

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

Institutional Investors Weigh In On Costamare

A number of institutional investors have recently modified their holdings of CMRE. Bridgeway Capital Management LLC raised its holdings in shares of Costamare by 20.6% during the first quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock worth $17,978,000 after acquiring an additional 270,168 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Costamare by 1,322.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after buying an additional 1,366,344 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Costamare by 62.9% in the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock valued at $10,216,000 after buying an additional 239,970 shares in the last quarter. Empowered Funds LLC increased its holdings in Costamare by 8.2% in the first quarter. Empowered Funds LLC now owns 504,570 shares of the shipping company’s stock worth $5,727,000 after buying an additional 38,168 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after buying an additional 399,860 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile