Costamare (NYSE:CMRE – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.
Separately, Stifel Nicolaus dropped their target price on Costamare from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $17.50.
Shares of NYSE:CMRE traded down $0.05 on Monday, hitting $11.95. 71,268 shares of the company traded hands, compared to its average volume of 969,578. Costamare has a 52 week low of $9.64 and a 52 week high of $18.01. The company has a quick ratio of 1.49, a current ratio of 1.54 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $13.94 and a 200-day simple moving average of $13.93. The company has a market cap of $1.47 billion, a PE ratio of 3.22 and a beta of 1.47.
Costamare (NYSE:CMRE – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The shipping company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Costamare had a return on equity of 23.37% and a net margin of 52.41%. The company had revenue of $268.01 million for the quarter, compared to analysts’ expectations of $268.68 million. During the same period last year, the firm posted $0.31 earnings per share. As a group, sell-side analysts anticipate that Costamare will post 3.96 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. bought a new stake in Costamare in the 1st quarter worth approximately $30,000. Counterpoint Mutual Funds LLC increased its stake in Costamare by 65.3% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,170 shares of the shipping company’s stock worth $27,000 after acquiring an additional 857 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in Costamare in the 1st quarter worth approximately $46,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Costamare in the 1st quarter worth approximately $57,000. Finally, Captrust Financial Advisors increased its stake in Costamare by 83.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,403 shares of the shipping company’s stock worth $68,000 after acquiring an additional 2,000 shares during the last quarter. 59.47% of the stock is currently owned by institutional investors.
Costamare Company Profile (Get Rating)
Costamare Inc owns and charters containerships to liner companies worldwide. As of March 18, 2022, it had a fleet of 76 containerships with a total capacity of approximately 557,400 twenty-foot equivalent units and 45 dry bulk vessels with a total capacity of approximately 2,435,500 DWT. The company was founded in 1974 and is based in Monaco.