Costamare’s (CMRE) “Hold” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Costamare (NYSE:CMRE) in a research note issued to investors on Wednesday morning,Benzinga reports. Jefferies Financial Group currently has a $13.00 target price on the shipping company’s stock.

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

Costamare Trading Down 1.6 %

Shares of NYSE CMRE opened at $10.55 on Wednesday. Costamare has a fifty-two week low of $10.51 and a fifty-two week 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 market cap of $1.24 billion, a price-to-earnings ratio of 3.50 and a beta of 1.31. The business’s 50 day moving average price is $12.48 and its 200-day moving average price is $13.54.

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

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio is currently 15.28%.

Institutional Investors Weigh In On Costamare

A number of institutional investors have recently added to or reduced their stakes in CMRE. Sanctuary Advisors LLC lifted its holdings in Costamare by 577.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after purchasing an additional 65,040 shares in the last quarter. Barclays PLC increased its stake 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. Oppenheimer & Co. Inc. purchased a new stake in Costamare in the 3rd quarter valued at about $886,000. Foundry Partners LLC purchased a new stake in shares of Costamare in the 3rd quarter valued at approximately $4,032,000. Finally, State Street Corp lifted its stake in Costamare by 2.6% during the third quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock worth $19,082,000 after purchasing 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