Costamare (NYSE:CMRE) Upgraded to Buy at StockNews.com

Costamare (NYSE:CMRE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

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

Costamare Price Performance

Shares of CMRE traded up $0.03 during trading hours on Thursday, reaching $12.10. 363,309 shares of the stock traded hands, compared to its average volume of 348,086. The company has a market cap of $1.42 billion, a P/E ratio of 4.02 and a beta of 1.33. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare has a 52-week low of $10.14 and a 52-week high of $17.58. The company’s 50-day moving average price is $13.01 and its two-hundred day moving average price is $13.82.

Costamare (NYSE:CMRE) last issued its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $544.64 million for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.46 EPS. On average, analysts anticipate that Costamare will post 2.79 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Marshall Wace LLP raised its position 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 purchasing an additional 324,618 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of 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 purchased a new position in Costamare during the 3rd quarter valued at about $4,032,000. Susquehanna Fundamental Investments LLC increased its holdings in Costamare by 408.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock worth $1,947,000 after buying an additional 95,196 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position 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 during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile