Costamare (NYSE:CMRE) Trading Up 6.2%

Shares of Costamare Inc. (NYSE:CMREGet Rating) were up 6.2% on Tuesday . The company traded as high as $12.62 and last traded at $12.56. Approximately 7,066 shares traded hands during trading, a decline of 99% from the average daily volume of 742,311 shares. The stock had previously closed at $11.83.

A number of analysts recently weighed in on CMRE shares. Stifel Nicolaus cut their target price on shares of Costamare from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Costamare currently has a consensus rating of “Buy” and a consensus price target of $16.50.

The stock has a fifty day moving average of $14.26 and a 200-day moving average of $13.92. The company has a quick ratio of 1.49, a current ratio of 1.54 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 3.44 and a beta of 1.47.

Costamare (NYSE:CMREGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The shipping company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. Costamare had a return on equity of 23.37% and a net margin of 52.41%. The business had revenue of $268.01 million during the quarter, compared to the consensus estimate of $268.68 million. During the same period in the prior year, the company earned $0.31 earnings per share. On average, equities analysts forecast that Costamare Inc. will post 3.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Tuesday, April 19th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, April 18th. Costamare’s payout ratio is 12.40%.

Several hedge funds have recently made changes to their positions in CMRE. Goldman Sachs Group Inc. raised its holdings in shares of Costamare by 99.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,380,031 shares of the shipping company’s stock valued at $23,529,000 after buying an additional 689,704 shares during the period. Acadian Asset Management LLC grew its stake in Costamare by 48.8% in the first quarter. Acadian Asset Management LLC now owns 1,306,384 shares of the shipping company’s stock valued at $22,255,000 after purchasing an additional 428,489 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Costamare by 159.3% during the 3rd quarter. Millennium Management LLC now owns 490,614 shares of the shipping company’s stock worth $7,600,000 after acquiring an additional 301,409 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Costamare by 2,065.4% during the 4th quarter. BNP Paribas Arbitrage SA now owns 300,407 shares of the shipping company’s stock valued at $3,800,000 after purchasing an additional 286,534 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Costamare in the 1st quarter valued at approximately $3,661,000. Institutional investors and hedge funds own 59.47% of the company’s stock.

Costamare Company Profile (NYSE:CMRE)

Costamare Inc owns and charters containerships to liner companies worldwide. As of March 18, 2022, it had a fleet of 76 containerships with a total capacity of approximately 557,400 twenty-foot equivalent units and 45 dry bulk vessels with a total capacity of approximately 2,435,500 DWT. The company was founded in 1974 and is based in Monaco.

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