Costamare (NYSE:CMRE) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Costamare (NYSE:CMRE) from a buy rating to a hold rating in a research note published on Friday.

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

Costamare Trading Up 0.7 %

Shares of Costamare stock opened at $10.28 on Friday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 4.21 and a beta of 1.28. Costamare has a 1 year low of $9.66 and a 1 year high of $17.58. The company’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $12.90. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last issued its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. As a group, sell-side analysts expect that Costamare will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were issued a dividend of $0.115 per share. The ex-dividend date was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.48%. Costamare’s payout ratio is presently 18.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Costamare by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the shipping company’s stock valued at $316,000 after acquiring an additional 1,064 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Costamare by 3.7% during the fourth quarter. Sterling Capital Management LLC now owns 32,113 shares of the shipping company’s stock valued at $413,000 after acquiring an additional 1,141 shares during the period. DGS Capital Management LLC lifted its holdings in shares of Costamare by 6.1% during the third quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock valued at $340,000 after acquiring an additional 1,238 shares during the period. Kendall Capital Management lifted its holdings in shares of Costamare by 0.6% during the fourth quarter. Kendall Capital Management now owns 242,374 shares of the shipping company’s stock valued at $3,115,000 after acquiring an additional 1,370 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Costamare by 3.2% during the fourth quarter. Stifel Financial Corp now owns 59,433 shares of the shipping company’s stock valued at $764,000 after acquiring an additional 1,832 shares during the period. 58.08% of the stock is owned by institutional investors.

About Costamare