Costamare (NYSE:CMRE) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Costamare (NYSE:CMRE) to a hold rating in a research report released on Tuesday morning,Zacks reports.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Costamare in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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 market cap of $1.69 billion, a PE ratio of 5.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.61 and a quick ratio of 1.57. The firm has a 50-day moving average of $15.02 and a 200-day moving average of $15.59.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Monday, July 27th. The shipping company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm 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%. As a group, equities research analysts expect that Costamare will post 2.53 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Tuesday, October 20th will be paid a dividend of $0.1250 per share. The ex-dividend date is Tuesday, October 20th. This represents a $0.50 annualized dividend and a dividend yield of 3.6%. Costamare’s dividend payout ratio (DPR) is presently 19.01%.

Insider Activity

In other Costamare news, CFO Grigorios Zikos sold 59,840 shares of the business’s stock in a transaction 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 can be accessed through this hyperlink. 23.20% of the stock is currently owned by insiders.

Institutional Trading of Costamare

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

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.