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

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

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

Costamare Trading Up 1.5 %

Shares of CMRE stock opened at $11.53 on Wednesday. Costamare has a 1-year low of $7.71 and a 1-year high of $11.85. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.59. The business has a 50-day moving average of $11.25 and a 200 day moving average of $10.46. The stock has a market capitalization of $1.36 billion, a PE ratio of 3.91 and a beta of 1.38.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The business had revenue of $494.85 million during the quarter, compared to analysts’ expectations of $419.00 million. During the same quarter last year, the business posted $0.61 EPS. As a group, sell-side analysts anticipate that Costamare will post 2.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CMRE. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Costamare by 1,282.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock worth $2,063,000 after acquiring an additional 198,922 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of Costamare by 16.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock worth $13,677,000 after acquiring an additional 183,193 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Costamare by 177.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock worth $2,004,000 after acquiring an additional 133,225 shares in the last quarter. Demars Financial Group LLC bought a new position in shares of Costamare in the 3rd quarter worth approximately $1,106,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Costamare by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock worth $73,591,000 after acquiring an additional 107,756 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

About Costamare

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.