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

StockNews.com upgraded shares of Costamare (NYSE:CMRE) from a hold rating to a buy rating in a report issued on Thursday morning.

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

Costamare Stock Performance

Shares of CMRE stock opened at $12.10 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.65 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 firm has a 50 day moving average of $13.01 and a 200-day moving average of $13.82. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 4.02 and a beta of 1.33.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million during 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 previous year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that Costamare will post 2.79 earnings per share for the current year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders 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 3.80%. The ex-dividend date of this dividend is Tuesday, January 21st. Costamare’s dividend payout ratio is currently 15.28%.

Institutional Investors Weigh In On Costamare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC increased its holdings in Costamare by 7.6% during the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock worth $224,000 after purchasing an additional 1,012 shares in the last quarter. DGS Capital Management LLC grew its holdings in Costamare by 6.1% during the third quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock worth $340,000 after buying an additional 1,238 shares in the last quarter. nVerses Capital LLC raised its position in Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the last quarter. Quarry LP raised its position in Costamare by 157.5% in the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after buying an additional 2,003 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in Costamare during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile