Weiss Ratings Reaffirms Hold (C) Rating for Costamare (NYSE:CMRE)

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for Costamare (NYSE:CMRE), indicating a neutral stance on the stock's future performance.
• Costamare's shares traded down 2.8% to $11.19, with a consensus rating of "Moderate Buy" and an average price target of $13.00.
• The company reported earnings of $0.77 per share, surpassing estimates and showcasing a net margin of 17.1%.

Costamare (NYSE:CMRE - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Costamare from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Costamare currently has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Costamare Trading Down 2.8%

Shares of NYSE CMRE traded down $0.32 during trading on Wednesday, hitting $11.19. 592,359 shares of the company traded hands, compared to its average volume of 485,252. Costamare has a 1 year low of $6.63 and a 1 year high of $14.85. The company has a 50-day moving average price of $11.68 and a 200-day moving average price of $9.99. The firm has a market capitalization of $1.35 billion, a P/E ratio of 4.74 and a beta of 1.38. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.65.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.29. Costamare had a net margin of 17.10% and a return on equity of 13.67%. The business had revenue of $211.20 million for the quarter, compared to analyst estimates of $209.72 million. During the same quarter in the previous year, the business posted $0.76 EPS. On average, equities analysts predict that Costamare will post 2.52 EPS for the current year.

Institutional Trading of Costamare

A number of institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in Costamare by 204.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock worth $63,000 after acquiring an additional 4,635 shares during the period. Tidal Investments LLC raised its holdings in Costamare by 12.2% in the second quarter. Tidal Investments LLC now owns 50,700 shares of the shipping company's stock worth $462,000 after purchasing an additional 5,512 shares in the last quarter. Bank of America Corp DE raised its holdings in Costamare by 46.8% in the second quarter. Bank of America Corp DE now owns 246,148 shares of the shipping company's stock worth $2,242,000 after purchasing an additional 78,423 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Costamare by 23.5% in the second quarter. Raymond James Financial Inc. now owns 139,584 shares of the shipping company's stock worth $1,272,000 after purchasing an additional 26,585 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Costamare by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 15,393 shares of the shipping company's stock worth $140,000 after purchasing an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

About Costamare

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