Costamare (NYSE:CMRE) Given New $12.00 Price Target at Stifel Nicolaus

Costamare (NYSE:CMRE) had its price target lifted by Stifel Nicolaus from $11.50 to $12.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 10.70% from the company’s previous close.

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

Costamare Stock Performance

Shares of CMRE stock traded up $0.16 during trading hours on Friday, reaching $10.84. 175,284 shares of the company’s stock were exchanged, compared to its average volume of 428,977. Costamare has a fifty-two week low of $7.71 and a fifty-two week high of $11.85. 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 stock has a market capitalization of $1.28 billion, a P/E ratio of 3.69 and a beta of 1.38. The business has a fifty day moving average price of $11.24 and a 200-day moving average price of $10.39.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $494.85 million during 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 in the prior year, the company earned $0.61 EPS. Analysts predict that Costamare will post 2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Costamare

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Costamare by 1,877.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company’s stock worth $26,000 after buying an additional 2,553 shares in the last quarter. Parallel Advisors LLC grew its position in Costamare by 197.8% in the fourth 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 during the period. Quarry LP raised its stake in Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Costamare by 157.0% during the third quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 3,232 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Costamare in the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

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.