StockNews.com Downgrades Costamare (NYSE:CMRE) to Hold

StockNews.com downgraded shares of Costamare (NYSE:CMRE) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Friday, November 1st.

Costamare Trading Down 1.3 %

NYSE:CMRE opened at $11.66 on Friday. Costamare has a 12 month low of $10.14 and a 12 month high of $17.58. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $12.69 and its 200 day moving average is $13.67. The stock has a market capitalization of $1.37 billion, a PE ratio of 3.87 and a beta of 1.33.

Costamare (NYSE:CMRE) last released its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same period last year, the business posted $0.46 earnings per share. Sell-side analysts expect that Costamare will post 2.74 earnings per share for the current year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Tuesday, January 21st will be paid a $0.115 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.95%. Costamare’s dividend payout ratio is 15.28%.

Hedge Funds Weigh In On Costamare

Institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC boosted its position in shares of Costamare by 7.6% during the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after acquiring an additional 1,012 shares during the last quarter. DGS Capital Management LLC lifted its position in Costamare by 6.1% during the third quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock valued at $340,000 after purchasing an additional 1,238 shares during the last quarter. nVerses Capital LLC grew its stake in Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares in the last quarter. Quarry LP increased its holdings in shares of Costamare by 157.5% in the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after buying an additional 2,003 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of Costamare during the 3rd quarter valued at $35,000. 58.08% of the stock is currently owned by institutional investors.

About Costamare