Costamare (NYSE:CMRE - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.
Other equities analysts also recently issued reports about the stock. Jefferies Financial Group lifted their price objective on shares of Costamare from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of Costamare from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Wednesday, July 24th.
Check Out Our Latest Report on Costamare
Costamare Stock Up 1.4 %
CMRE stock traded up $0.19 during trading on Friday, reaching $13.72. 306,128 shares of the stock were exchanged, compared to its average volume of 545,280. The firm's 50 day moving average is $15.03 and its 200 day moving average is $13.28. The firm has a market cap of $1.61 billion, a P/E ratio of 5.35 and a beta of 1.38. The company has a current ratio of 1.61, a quick ratio of 1.81 and a debt-to-equity ratio of 0.77. Costamare has a twelve month low of $8.54 and a twelve month high of $17.58.
Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. As a group, research analysts forecast that Costamare will post 3 EPS for the current year.
Institutional Investors Weigh In On Costamare
Several institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. grew its position in shares of Costamare by 39.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,188 shares of the shipping company's stock valued at $266,000 after purchasing an additional 4,544 shares in the last quarter. Creative Planning increased its position in shares of Costamare by 5.2% during the second quarter. Creative Planning now owns 55,067 shares of the shipping company's stock valued at $905,000 after buying an additional 2,703 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in shares of 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 in the last quarter. AQR Capital Management LLC boosted its stake in Costamare by 69.8% during the second quarter. AQR Capital Management LLC now owns 77,622 shares of the shipping company's stock valued at $1,275,000 after buying an additional 31,896 shares during the period. Finally, Marshall Wace LLP grew its position in Costamare by 985.5% during the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company's stock worth $5,875,000 after buying an additional 324,618 shares in the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.
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