Costamare (NYSE:CMRE) Upgraded at StockNews.com

StockNews.com upgraded shares of Costamare (NYSE:CMRE) from a hold rating to a buy rating in a research note published on Thursday.

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Friday, November 1st.

Costamare Stock Down 2.4 %

NYSE CMRE opened at $11.83 on Thursday. The business’s fifty day simple moving average is $12.96 and its 200-day simple moving average is $13.79. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.39 billion, a PE ratio of 3.93 and a beta of 1.33. Costamare has a 52 week low of $10.14 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last posted its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same period in the previous year, the business posted $0.46 EPS. As a group, equities analysts anticipate that Costamare will post 2.79 earnings per share for the current year.

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Tuesday, January 21st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $0.46 annualized dividend and a yield of 3.89%. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Costamare by 985.5% in the 2nd quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock valued at $5,875,000 after buying an additional 324,618 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Costamare by 87.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock worth $7,071,000 after purchasing an additional 257,422 shares during the period. Foundry Partners LLC acquired a new stake in shares of Costamare during the third quarter worth about $4,032,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Costamare by 408.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock valued at $1,947,000 after purchasing an additional 95,196 shares during the period. Finally, Horizon Kinetics Asset Management LLC grew its holdings in shares of Costamare by 41.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 323,000 shares of the shipping company’s stock valued at $5,078,000 after purchasing an additional 94,900 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Company Profile