Costamare (NYSE:CMRE) Lowered to Hold at StockNews.com

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

Separately, Stifel Nicolaus boosted their price target on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research report on Friday, April 19th.

Costamare Stock Performance

NYSE:CMRE traded down $0.17 during mid-day trading on Wednesday, hitting $11.36. The stock had a trading volume of 403,329 shares, compared to its average volume of 429,942. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 3.85 and a beta of 1.38. The company has a 50 day simple moving average of $11.24 and a 200-day simple moving average of $10.45. Costamare has a 52 week low of $7.71 and a 52 week high of $11.85. The company has a current ratio of 1.69, a quick ratio of 1.59 and a debt-to-equity ratio of 0.83.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $494.85 million for the quarter, compared to the consensus estimate of $419.00 million. Costamare had a net margin of 25.26% and a return on equity of 11.37%. During the same period last year, the firm posted $0.61 EPS. On average, research analysts expect that Costamare will post 2.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Costamare

Several hedge funds have recently made changes to their positions in the business. Unison Advisors LLC grew its stake in shares of Costamare by 1.2% in the 4th quarter. Unison Advisors LLC now owns 81,014 shares of the shipping company’s stock worth $843,000 after purchasing an additional 977 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Costamare by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 72,729 shares of the shipping company’s stock worth $757,000 after purchasing an additional 1,083 shares during the last quarter. Quarry LP grew its stake in shares of Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after purchasing an additional 1,376 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Costamare by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Costamare by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.