COSTAMARE INC/SH Sees Unusually High Options Volume (NYSE:CMRE)

COSTAMARE INC/SH (NYSE:CMRE) was the recipient of unusually large options trading on Monday. Stock traders purchased 1,079 call options on the stock. This represents an increase of approximately 1,339% compared to the typical volume of 75 call options.

Several research analysts have issued reports on the company. ValuEngine cut COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. TheStreet upgraded COSTAMARE INC/SH from a “d+” rating to a “c” rating in a research report on Thursday, July 25th. Finally, Zacks Investment Research upgraded COSTAMARE INC/SH from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday, October 8th.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of COSTAMARE INC/SH by 1.5% in the second quarter. Vanguard Group Inc. now owns 171,238 shares of the shipping company’s stock valued at $879,000 after buying an additional 2,584 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of COSTAMARE INC/SH by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 144,116 shares of the shipping company’s stock valued at $739,000 after buying an additional 4,621 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of COSTAMARE INC/SH by 6.3% in the second quarter. D. E. Shaw & Co. Inc. now owns 85,378 shares of the shipping company’s stock valued at $438,000 after buying an additional 5,071 shares in the last quarter. Strs Ohio increased its position in shares of COSTAMARE INC/SH by 7.5% in the second quarter. Strs Ohio now owns 111,300 shares of the shipping company’s stock valued at $570,000 after buying an additional 7,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of COSTAMARE INC/SH in the second quarter valued at $67,000. Hedge funds and other institutional investors own 20.57% of the company’s stock.

NYSE:CMRE opened at $7.06 on Wednesday. The stock has a fifty day moving average price of $6.30 and a two-hundred day moving average price of $5.72. The stock has a market capitalization of $804.79 million, a price-to-earnings ratio of 16.81 and a beta of 2.19. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.79 and a current ratio of 0.82. COSTAMARE INC/SH has a 1 year low of $4.20 and a 1 year high of $7.07.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings data on Wednesday, July 24th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.10. The firm had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $110.72 million. COSTAMARE INC/SH had a return on equity of 6.55% and a net margin of 14.26%. COSTAMARE INC/SH’s revenue was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, analysts predict that COSTAMARE INC/SH will post 0.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Tuesday, October 22nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Monday, October 21st. COSTAMARE INC/SH’s payout ratio is 95.24%.

COSTAMARE INC/SH Company Profile

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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