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

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

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

Costamare Stock Performance

NYSE:CMRE opened at $11.81 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a market cap of $1.39 billion, a PE ratio of 3.92 and a beta of 1.33. The firm has a 50 day simple moving average of $12.75 and a 200-day simple moving average of $13.70. Costamare has a 1-year low of $10.14 and a 1-year high of $17.58.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $434.13 million. During the same period in the previous year, the firm posted $0.46 EPS. On average, equities analysts expect that Costamare will post 2.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Costamare by 87.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock worth $7,071,000 after purchasing an additional 257,422 shares during the period. Foundry Partners LLC acquired a new stake in Costamare during the 3rd quarter worth approximately $4,032,000. Horizon Kinetics Asset Management LLC increased its position in Costamare by 41.6% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 323,000 shares of the shipping company’s stock worth $5,078,000 after purchasing an additional 94,900 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Costamare by 577.2% in the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after buying an additional 65,040 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Costamare during the third quarter valued at approximately $886,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare