Costamare (NYSE:CMRE) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Costamare (NYSE:CMRE) from a buy rating to a hold rating in a report released on Wednesday.

A number of other analysts also recently weighed in on the company. Stifel Nicolaus increased their price target on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price target on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st.

Costamare Stock Performance

Shares of Costamare stock opened at $13.66 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $14.26. Costamare has a 1-year low of $8.54 and a 1-year high of $17.58. The company has a market cap of $1.61 billion, a P/E ratio of 5.29 and a beta of 1.37.

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

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be paid a $0.115 dividend. The ex-dividend date is Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.37%. Costamare’s dividend payout ratio is presently 17.83%.

Institutional Trading of Costamare

Large investors have recently made changes to their positions in the company. nVerses Capital LLC grew its stake in shares of Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. CWM LLC lifted its position in Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after acquiring an additional 1,502 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in Costamare in the 2nd quarter valued at about $80,000. Blue Trust Inc. lifted its position in Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Costamare in the 2nd quarter valued at about $185,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Company Profile