Costamare (NYSE:CMRE) Cut to “Hold” at StockNews.com

StockNews.com cut 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 reaffirmed a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Friday, November 1st.

Costamare Price Performance

Shares of CMRE opened at $11.66 on Friday. The business has a 50-day moving average of $12.69 and a 200-day moving average of $13.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 3.87 and a beta of 1.33. Costamare has a 1 year low of $10.14 and a 1 year high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million during 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 quarter last year, the business earned $0.46 EPS. As a group, equities research analysts anticipate that Costamare will post 2.74 earnings per share for the current year.

Costamare Dividend Announcement

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

Institutional Investors Weigh In On Costamare

A number of large investors have recently bought and sold shares of CMRE. nVerses Capital LLC raised its holdings in shares of Costamare by 1,700.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 1,700 shares during the period. Gladius Capital Management LP acquired a new position in Costamare during the 3rd quarter worth approximately $35,000. Quarry LP raised its stake in Costamare by 157.5% during 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 period. 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 worth $121,000 after acquiring an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Costamare in the second quarter valued at approximately $185,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Company Profile