Costamare Inc. (NYSE:CMRE) Given Consensus Rating of “Buy” by Brokerages

Costamare Inc. (NYSE:CMRE – Get Rating) has been given a consensus rating of “Buy” by the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.75.

A number of research firms recently issued reports on CMRE. Zacks Investment Research downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Tuesday, March 15th. StockNews.com began coverage on shares of Costamare in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Costamare by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,758,772 shares of the shipping company’s stock worth $89,204,000 after acquiring an additional 75,789 shares in the last quarter. BlackRock Inc. grew its stake in shares of Costamare by 3.3% in the 3rd quarter. BlackRock Inc. now owns 2,964,901 shares of the shipping company’s stock worth $45,926,000 after acquiring an additional 95,834 shares in the last quarter. Morgan Stanley grew its stake in shares of Costamare by 11.2% in the 3rd quarter. Morgan Stanley now owns 1,567,869 shares of the shipping company’s stock worth $24,285,000 after acquiring an additional 157,787 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Costamare by 9.2% in the 4th quarter. Acadian Asset Management LLC now owns 877,895 shares of the shipping company’s stock worth $11,089,000 after acquiring an additional 74,201 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Costamare by 3.6% in the 3rd quarter. Two Sigma Advisers LP now owns 747,000 shares of the shipping company’s stock worth $11,571,000 after acquiring an additional 26,100 shares in the last quarter. Hedge funds and other institutional investors own 26.71% of the company’s stock.

Costamare stock opened at $15.08 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 1.31. Costamare has a 12-month low of $9.64 and a 12-month high of $18.01. The firm’s fifty day moving average is $15.52 and its 200 day moving average is $13.86. The company has a market capitalization of $1.86 billion, a PE ratio of 4.61 and a beta of 1.42.

Costamare (NYSE:CMRE – Get Rating) last released its earnings results on Wednesday, March 9th. The shipping company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. Costamare had a net margin of 54.83% and a return on equity of 20.77%. During the same quarter in the prior year, the firm posted $0.27 EPS. Sell-side analysts expect that Costamare will post 4.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 5th. Shareholders of record on Tuesday, April 19th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, April 18th. This represents a $0.46 annualized dividend and a yield of 3.05%. Costamare’s payout ratio is 14.07%.

Costamare Company Profile (Get Rating)

Costamare Inc owns and charters containerships to liner companies worldwide. As of June 14, 2021, it had a fleet of 81 containerships with a total capacity of approximately 581,000 twenty foot equivalent units and 16 dry bulk vessels with a total capacity of approximately 932,000 DWT. The company was founded in 1974 and is based in Monaco.

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