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

StockNews.com downgraded shares of Costamare (NYSE:CMREFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other analysts also recently issued reports on CMRE. Stifel Nicolaus raised their price target on Costamare from $11.50 to $12.00 and gave the stock a hold rating in a report on Friday, April 19th. Jefferies Financial Group raised their price target on Costamare from $11.00 to $12.00 and gave the stock a hold rating in a report on Friday, May 10th.

Read Our Latest Stock Analysis on Costamare

Costamare Price Performance

Shares of CMRE opened at $14.64 on Tuesday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 5.67 and a beta of 1.32. Costamare has a 52 week low of $7.71 and a 52 week high of $14.77. The company has a current ratio of 1.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $11.93 and a 200-day moving average of $10.97.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Friday, April 19th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, April 18th. Costamare’s payout ratio is currently 17.83%.

Institutional Trading of Costamare

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of Costamare by 197.8% in the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock worth $42,000 after buying an additional 2,696 shares in the last quarter. Quarry LP raised its stake in shares of Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after buying an additional 1,376 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Costamare in the 4th quarter worth $114,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Costamare in the 1st quarter worth $132,000. Finally, Raymond James & Associates bought a new stake in shares of Costamare in the 4th quarter worth $135,000. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile

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