StockNews.com Lowers Costamare (NYSE:CMRE) to Hold

StockNews.com lowered shares of Costamare (NYSE:CMRE – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Separately, Stifel Nicolaus cut their target price on Costamare from $17.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $17.50.

Costamare stock opened at $11.71 on Monday. The stock’s 50 day moving average price is $13.73 and its 200 day moving average price is $13.90. The firm has a market capitalization of $1.45 billion, a PE ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.49 and a current ratio of 1.54. Costamare has a one year low of $9.64 and a one year high of $18.01.

Costamare (NYSE:CMRE – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The shipping company reported $0.84 EPS for the quarter, topping 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 firm had revenue of $268.01 million for the quarter, compared to analyst estimates of $268.68 million. During the same period in the previous year, the company posted $0.31 EPS. On average, analysts forecast that Costamare will post 3.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Tuesday, April 19th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Monday, April 18th. Costamare’s dividend payout ratio is currently 12.40%.

Several hedge funds have recently bought and sold shares of CMRE. Edmond DE Rothschild Holding S.A. bought a new position in Costamare during the 1st quarter worth $30,000. Counterpoint Mutual Funds LLC grew its stake in Costamare by 65.3% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,170 shares of the shipping company’s stock worth $27,000 after buying an additional 857 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in Costamare during the 1st quarter worth $46,000. Whittier Trust Co. of Nevada Inc. bought a new position in Costamare during the 1st quarter worth $57,000. Finally, Captrust Financial Advisors grew its stake in Costamare by 83.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,403 shares of the shipping company’s stock worth $68,000 after buying an additional 2,000 shares during the last quarter. 59.47% of the stock is currently owned by institutional investors and hedge funds.

About Costamare (Get Rating)

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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