Costamare (NYSE:CMRE) Stock Rating Upgraded by StockNews.com

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

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

Costamare Stock Down 2.4 %

CMRE stock opened at $11.83 on Thursday. The firm’s 50-day moving average is $12.96 and its two-hundred day moving average is $13.80. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 3.93 and a beta of 1.33. Costamare has a 52 week low of $10.14 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million for the quarter, compared to analysts’ expectations of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts forecast that Costamare will post 2.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Costamare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Costamare by 291.1% in the third quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock worth $928,000 after buying an additional 43,925 shares during the period. Sanctuary Advisors LLC lifted its position in Costamare by 577.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock worth $1,200,000 after buying an additional 65,040 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Costamare during the third quarter valued at $886,000. Foundry Partners LLC acquired a new stake in shares of Costamare during the 3rd quarter valued at about $4,032,000. Finally, State Street Corp grew its position in Costamare by 2.6% in the third quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock worth $19,082,000 after acquiring an additional 30,986 shares in the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile