Costamare (NYSE:CMRE) Receives Hold Rating from Jefferies Financial Group

Costamare (NYSE:CMRE)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Financial Group in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $13.00 price target on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential downside of 5.59% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Stock Performance

CMRE stock traded up $0.16 during midday trading on Friday, reaching $13.77. The stock had a trading volume of 224,606 shares, compared to its average volume of 497,244. The stock has a market cap of $1.62 billion, a PE ratio of 4.87 and a beta of 1.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a fifty day simple moving average of $14.16 and a two-hundred day simple moving average of $14.30. Costamare has a 52-week low of $8.61 and a 52-week high of $17.58.

Costamare (NYSE:CMRE) last issued its earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $515.42 million during the quarter, compared to analyst estimates of $380.41 million. Costamare had a return on equity of 13.63% and a net margin of 19.63%. As a group, equities research analysts anticipate that Costamare will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Costamare

Several institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC increased its stake in shares of Costamare by 20.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock valued at $17,978,000 after purchasing an additional 270,168 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after purchasing an additional 1,366,344 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Costamare by 62.9% in the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock valued at $10,216,000 after purchasing an additional 239,970 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Costamare by 8.2% in the 1st quarter. Empowered Funds LLC now owns 504,570 shares of the shipping company’s stock valued at $5,727,000 after purchasing an additional 38,168 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Costamare by 25,731.0% in the 2nd quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 399,860 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

About Costamare