Costamare (NYSE:CMRE) Shares Gap Down to $15.72

Costamare Inc. (NYSE:CMRE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.72, but opened at $15.37. Costamare shares last traded at $15.46, with a volume of 13,063 shares traded.

Analysts Set New Price Targets

CMRE has been the topic of several analyst reports. Jefferies Financial Group increased their target price on Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their target price on Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Costamare from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd.

Costamare Trading Down 2.2 %

The business’s 50 day moving average is $14.06 and its two-hundred day moving average is $13.86. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.81 billion, a P/E ratio of 5.97 and a beta of 1.37.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The business had revenue of $515.42 million for the quarter, compared to analysts’ expectations of $380.41 million. Analysts expect that Costamare Inc. will post 3.05 EPS for the current year.

Institutional Investors Weigh In On Costamare

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in Costamare by 197.8% during the fourth quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock worth $42,000 after acquiring an additional 2,696 shares during the period. Quarry LP grew its holdings in Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares during the period. CWM LLC grew its holdings in Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Costamare during the second quarter worth about $80,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Costamare during the first quarter worth about $132,000. 58.08% of the stock is currently owned by institutional investors.

About Costamare