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

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

Separately, Stifel Nicolaus boosted their target price on Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research report on Friday, April 19th.

Costamare Trading Up 1.5 %

Shares of NYSE CMRE opened at $11.53 on Wednesday. The business’s 50 day moving average is $11.25 and its two-hundred day moving average is $10.46. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.59. Costamare has a 1-year low of $7.71 and a 1-year high of $11.85. The stock has a market capitalization of $1.36 billion, a P/E ratio of 3.91 and a beta of 1.38.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The company had revenue of $494.85 million for the quarter, compared to analysts’ expectations of $419.00 million. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts expect that Costamare will post 2.75 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Costamare by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock valued at $73,591,000 after purchasing an additional 107,756 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Costamare by 16.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after purchasing an additional 183,193 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Costamare by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,687 shares of the shipping company’s stock valued at $4,900,000 after purchasing an additional 14,126 shares during the period. Denali Advisors LLC boosted its holdings in shares of Costamare by 8.0% in the fourth quarter. Denali Advisors LLC now owns 450,495 shares of the shipping company’s stock valued at $4,690,000 after purchasing an additional 33,400 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Costamare by 6.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 221,727 shares of the shipping company’s stock valued at $2,308,000 after purchasing an additional 13,450 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

About Costamare

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.