Jefferies Financial Group Reaffirms “Hold” Rating for Costamare (NYSE:CMRE)

Costamare (NYSE:CMRE)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Financial Group in a research note issued to investors on Friday, Benzinga reports. They presently have a $13.00 price objective on the shipping company’s stock. Jefferies Financial Group’s target price indicates a potential downside of 5.32% from the stock’s current price.

CMRE has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Price Performance

CMRE opened at $13.73 on Friday. The stock has a fifty day moving average of $14.16 and a 200-day moving average of $14.32. The firm has a market capitalization of $1.62 billion, a P/E ratio of 4.85 and a beta of 1.37. Costamare has a 12-month low of $8.61 and a 12-month high of $17.58. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77.

Costamare (NYSE:CMRE) last posted its earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The firm had revenue of $515.42 million for the quarter, compared to the consensus estimate of $380.41 million. Equities analysts forecast that Costamare will post 2.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Costamare

A number of institutional investors and hedge funds have recently modified their holdings of the business. Unison Advisors LLC grew its stake in shares of Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after acquiring an additional 854 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Costamare by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock worth $1,225,000 after buying an additional 990 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Costamare by 7.6% in the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock worth $224,000 after buying an additional 1,012 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Costamare by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after purchasing an additional 1,390 shares in the last quarter. Finally, CWM LLC boosted its position in shares of 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 in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Company Profile