Costamare (NYSE:CMRE) Downgraded by StockNews.com to “Hold”

Costamare (NYSE:CMRE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus upped 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 Price Performance

Shares of CMRE traded down $0.62 during mid-day trading on Wednesday, reaching $13.44. The stock had a trading volume of 322,126 shares, compared to its average volume of 504,495. The firm has a market cap of $1.58 billion, a price-to-earnings 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 business has a fifty day moving average of $14.21 and a 200 day moving average of $14.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61.

Costamare (NYSE:CMRE) last released 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 predict that Costamare will post 3.05 EPS for the current year.

Institutional Trading of Costamare

Several hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd lifted its holdings in shares of Costamare by 34.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock worth $326,000 after purchasing an additional 8,042 shares during the period. Ballentine Partners LLC lifted its position in Costamare by 23.5% during the 1st quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after acquiring an additional 2,585 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Costamare by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after purchasing an additional 1,390 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Costamare during the 1st quarter worth approximately $455,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Costamare by 24.4% in the 1st quarter. BNP Paribas Financial Markets now owns 101,791 shares of the shipping company’s stock valued at $1,155,000 after acquiring an additional 19,998 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare