StockNews.com Upgrades Costamare (NYSE:CMRE) to Buy

Costamare (NYSE:CMRE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

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

Costamare Stock Performance

Shares of CMRE stock traded up $0.03 during mid-day trading on Thursday, reaching $12.10. The stock had a trading volume of 363,309 shares, compared to its average volume of 348,086. The business’s fifty day moving average is $13.01 and its 200-day moving average is $13.82. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 4.02 and a beta of 1.33. Costamare has a 1-year low of $10.14 and a 1-year high of $17.58. 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 (NYSE:CMRE) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million for the quarter, compared to analyst estimates 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 earned $0.46 EPS. On average, research analysts forecast that Costamare will post 2.79 earnings per share for the current year.

Institutional Investors Weigh In On Costamare

A number of hedge funds have recently added to or reduced their stakes in CMRE. nVerses Capital LLC increased its position in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after purchasing an additional 1,700 shares during the last quarter. Gladius Capital Management LP acquired a new position in Costamare in the third quarter valued at about $35,000. Quarry LP boosted its holdings in shares of 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 purchasing an additional 2,003 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Costamare during the 2nd quarter worth $185,000. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile