Costamare (NYSE:CMRE - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.
Separately, Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price objective on shares of Costamare in a research report on Friday, November 1st.
Check Out Our Latest Stock Report on Costamare
Costamare Trading Down 1.6 %
Shares of Costamare stock traded down $0.19 during trading hours on Friday, hitting $11.48. The company's stock had a trading volume of 271,947 shares, compared to its average volume of 337,072. The business has a fifty day moving average of $12.69 and a 200 day moving average of $13.65. Costamare has a 1-year low of $10.14 and a 1-year high of $17.58. 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 company has a market capitalization of $1.35 billion, a PE ratio of 3.81 and a beta of 1.31.
Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The company had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. During the same period last year, the company posted $0.46 earnings per share. As a group, equities analysts forecast that Costamare will post 2.74 EPS for the current year.
Hedge Funds Weigh In On Costamare
A number of institutional investors have recently made changes to their positions in CMRE. State Street Corp increased its stake in Costamare by 2.6% during the third quarter. State Street Corp now owns 1,213,838 shares of the shipping company's stock valued at $19,082,000 after purchasing an additional 30,986 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Costamare by 5.1% during the fourth quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company's stock valued at $7,736,000 after purchasing an additional 29,354 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Costamare by 87.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company's stock worth $7,071,000 after buying an additional 257,422 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Costamare by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company's stock worth $6,822,000 after purchasing an additional 15,983 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Costamare by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 339,566 shares of the shipping company's stock valued at $5,338,000 after buying an additional 11,076 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.
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