Costamare (NYSE:CMRE) Price Target Increased to $13.00 by Analysts at Jefferies Financial Group

Costamare (NYSE:CMRE) had its target price increased by equities research analysts at Jefferies Financial Group from $12.00 to $13.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the shipping company’s stock. Jefferies Financial Group’s target price suggests a potential downside of 10.16% from the stock’s current price.

A number of other research analysts also recently issued reports on CMRE. StockNews.com downgraded shares of Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Stifel Nicolaus increased their price target on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Costamare Trading Up 3.6 %

Shares of CMRE stock traded up $0.50 during mid-day trading on Wednesday, hitting $14.47. The company’s stock had a trading volume of 98,910 shares, compared to its average volume of 555,820. The company has a market cap of $1.70 billion, a PE ratio of 5.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.81 and a current ratio of 1.91. The company’s fifty day simple moving average is $15.54 and its 200-day simple moving average is $12.94. Costamare has a 52 week low of $8.54 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Friday, May 10th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. As a group, equities research analysts expect that Costamare will post 2.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Costamare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Costamare by 9.9% during the second quarter. Principal Financial Group Inc. now owns 44,085 shares of the shipping company’s stock valued at $724,000 after purchasing an additional 3,986 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Costamare by 42.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 57,777 shares of the shipping company’s stock worth $949,000 after buying an additional 17,350 shares during the period. SummerHaven Investment Management LLC raised its stake in Costamare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock valued at $1,225,000 after purchasing an additional 990 shares during the period. Veracity Capital LLC purchased a new position in Costamare during the 2nd quarter valued at approximately $275,000. Finally, Unison Advisors LLC grew its stake in shares of Costamare by 1.0% in the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after buying an additional 854 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

About Costamare