Costamare (NYSE:CMRE) PT Raised to $12.00

Costamare (NYSE:CMRE) had its price objective increased by equities researchers at Stifel Nicolaus from $11.50 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ target price points to a potential upside of 9.79% from the company’s previous close.

Separately, StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th.

Costamare Price Performance

Shares of Costamare stock opened at $10.93 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.59. Costamare has a one year low of $7.71 and a one year high of $11.85. The business’s 50 day simple moving average is $11.24 and its two-hundred day simple moving average is $10.41. The stock has a market capitalization of $1.29 billion, a P/E ratio of 3.71 and a beta of 1.38.

Costamare (NYSE:CMRE) last issued its earnings results on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. Costamare had a net margin of 25.26% and a return on equity of 11.37%. The company had revenue of $494.85 million for the quarter, compared to the consensus estimate of $419.00 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Analysts forecast that Costamare will post 2.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Costamare by 1,877.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 2,553 shares in the last quarter. Parallel Advisors LLC boosted its position in Costamare by 197.8% during the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 2,696 shares in the last quarter. Quarry LP grew its holdings in shares of Costamare by 48.5% during the 4th 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. Tower Research Capital LLC TRC raised its position in shares of Costamare by 157.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company’s stock worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Costamare in the 2nd quarter valued at approximately $51,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

About Costamare

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.