Costamare (NYSE:CMRE) Hits New 1-Year High at $11.90

Costamare Inc. (NYSE:CMRE) shares reached a new 52-week high during trading on Friday . The company traded as high as $11.90 and last traded at $11.89, with a volume of 411095 shares trading hands. The stock had previously closed at $11.52.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday.

Costamare Stock Up 2.3 %

The business’s 50 day moving average is $11.26 and its 200 day moving average is $10.48. The company has a quick ratio of 1.59, a current ratio of 1.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.39 billion, a P/E ratio of 3.99 and a beta of 1.38.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $494.85 million for the quarter, compared to analysts’ expectations of $419.00 million. Costamare had a net margin of 25.26% and a return on equity of 11.37%. During the same period last year, the business earned $0.61 EPS. As a group, equities analysts anticipate that Costamare Inc. will post 2.75 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.46 annualized dividend and a dividend yield of 3.90%. Costamare’s dividend payout ratio is presently 15.59%.

Institutional Investors Weigh In On Costamare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Unison Advisors LLC lifted its stake in shares of Costamare by 1.2% during the fourth quarter. Unison Advisors LLC now owns 81,014 shares of the shipping company’s stock worth $843,000 after buying an additional 977 shares during the period. SummerHaven Investment Management LLC raised its stake in Costamare by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 72,729 shares of the shipping company’s stock worth $757,000 after acquiring an additional 1,083 shares during the last quarter. Quarry LP lifted its position in 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. Allspring Global Investments Holdings LLC grew its stake in Costamare by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Costamare by 12.7% during the 4th quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 1,498 shares during the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile

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.