Costamare (NYSE:CMRE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Costamare (NYSE:CMRE) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the shipping company’s stock.

Separately, Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Price Performance

CMRE stock opened at $8.80 on Thursday. The business has a fifty day moving average of $9.28 and a two-hundred day moving average of $11.28. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 3.61 and a beta of 1.13. Costamare has a 52-week low of $6.63 and a 52-week high of $17.58.

Costamare (NYSE:CMRE) last posted its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $440.54 million during the quarter, compared to analysts’ expectations of $330.14 million. Costamare had a return on equity of 14.03% and a net margin of 15.14%. As a group, research analysts anticipate that Costamare will post 2.52 earnings per share for the current year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.46 annualized dividend and a dividend yield of 5.23%. Costamare’s dividend payout ratio is currently 18.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC purchased a new position in Costamare in the first quarter valued at $99,482,000. Bridgeway Capital Management LLC boosted its holdings in Costamare by 1.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,546,489 shares of the shipping company’s stock valued at $19,872,000 after purchasing an additional 29,354 shares during the period. American Century Companies Inc. boosted its holdings in Costamare by 11.1% in the first quarter. American Century Companies Inc. now owns 1,196,506 shares of the shipping company’s stock valued at $11,774,000 after purchasing an additional 119,106 shares during the period. Federated Hermes Inc. boosted its holdings in Costamare by 10.6% in the fourth quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company’s stock valued at $10,503,000 after purchasing an additional 78,377 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Costamare by 0.6% in the fourth quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company’s stock valued at $10,032,000 after purchasing an additional 4,791 shares during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile