Zacks Research Upgrades Costamare (NYSE:CMRE) to “Hold”

Costamare (NYSE:CMRE) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report issued on Tuesday, Zacks reports.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Costamare in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

Costamare Trading Up 1.5%

NYSE CMRE opened at $13.98 on Tuesday. Costamare has a one year low of $11.24 and a one year high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 5.32 and a beta of 1.07. The company’s 50-day simple moving average is $15.02 and its two-hundred day simple moving average is $15.59.

Costamare (NYSE:CMRE) last posted its earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $196.24 million during the quarter, compared to analyst estimates of $193.16 million. Costamare had a return on equity of 15.11% and a net margin of 39.66%. Equities analysts forecast that Costamare will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Costamare news, CFO Grigorios Zikos sold 59,840 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $15.34, for a total value of $917,945.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Costamare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC purchased a new position in Costamare during the third quarter worth about $938,000. GAMMA Investing LLC grew its holdings in shares of Costamare by 232.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,753 shares of the shipping company’s stock worth $85,000 after acquiring an additional 4,022 shares during the period. Engineers Gate Manager LP raised its stake in shares of Costamare by 226.4% during the 2nd quarter. Engineers Gate Manager LP now owns 37,083 shares of the shipping company’s stock worth $520,000 after buying an additional 25,723 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Costamare in the second quarter valued at about $36,000. Finally, IFP Advisors Inc raised its position in shares of Costamare by 1,221.5% during the 2nd quarter. IFP Advisors Inc now owns 2,947 shares of the shipping company’s stock worth $41,000 after purchasing an additional 2,724 shares during the last quarter. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Company Profile

Costamare Inc (NYSE: CMRE) is a global shipping company that owns and operates vessels used to transport containerized cargo and dry bulk commodities. Its containerships carry manufactured goods, consumer products and other cargo moved in standardized shipping containers, while its dry bulk vessels transport commodities such as grain, minerals and other bulk materials.

The company primarily generates revenue by chartering its vessels to international liner companies and other shipping customers under a range of charter arrangements.