Costamare (NYSE:CMRE) Hits New 1-Year High – Here’s Why

Costamare Inc. (NYSE:CMRE) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $18.06 and last traded at $17.7450, with a volume of 81138 shares traded. The stock had previously closed at $17.64.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMRE. Wall Street Zen upgraded Costamare from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Weiss Ratings cut Costamare from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, March 5th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Costamare Trading Down 0.9%

The stock has a market capitalization of $2.07 billion, a PE ratio of 6.03 and a beta of 1.22. The firm has a 50-day moving average price of $16.91 and a 200-day moving average price of $15.20. The company has a current ratio of 1.73, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58.

Costamare (NYSE:CMRE) last announced its earnings results on Sunday, February 15th. The shipping company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.14). Costamare had a net margin of 33.19% and a return on equity of 15.52%. The business had revenue of $200.18 million for the quarter, compared to analysts’ expectations of $204.00 million. The firm’s revenue was down 6.9% on a year-over-year basis. As a group, equities analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Monday, April 20th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $0.46 annualized dividend and a yield of 2.7%. Costamare’s dividend payout ratio (DPR) is 16.14%.

Institutional Investors Weigh In On Costamare

Several large investors have recently added to or reduced their stakes in CMRE. Cubist Systematic Strategies LLC purchased a new stake in Costamare in the 1st quarter worth about $192,000. Millennium Management LLC bought a new position in Costamare in the 1st quarter worth about $6,075,000. Dynamic Technology Lab Private Ltd boosted its stake in Costamare by 13.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company’s stock worth $188,000 after purchasing an additional 2,267 shares during the period. Goldman Sachs Group Inc. boosted its stake in Costamare by 42.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company’s stock worth $4,721,000 after purchasing an additional 142,372 shares during the period. Finally, Jane Street Group LLC boosted its stake in Costamare by 156.9% in the 1st quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company’s stock worth $1,978,000 after purchasing an additional 122,737 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.