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

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

A number of other analysts have also recently commented on CMRE. Jefferies Financial Group lifted their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price target on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th.

Costamare Stock Performance

Shares of CMRE opened at $13.44 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 firm has a market cap of $1.58 billion, a PE ratio of 5.21 and a beta of 1.37. Costamare has a 12 month low of $8.54 and a 12 month high of $17.58. The stock has a fifty day moving average price of $14.20 and a 200-day moving average price of $14.23.

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. Costamare had a return on equity of 13.63% and a net margin of 19.63%. Equities research analysts predict that Costamare will post 3.05 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a $0.115 dividend. The ex-dividend date is Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.42%. Costamare’s dividend payout ratio is currently 17.83%.

Hedge Funds Weigh In On Costamare

A number of institutional investors have recently bought and sold shares of the business. nVerses Capital LLC boosted its holdings 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 acquiring an additional 1,700 shares during the last quarter. CWM LLC lifted its position in Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after purchasing an additional 1,502 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Costamare during the second quarter valued at $80,000. Blue Trust Inc. boosted its holdings in Costamare by 2,540.4% in the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Costamare during the 2nd quarter worth about $185,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

About Costamare