Costamare Bulkers (NYSE:CMDB) Issues Earnings Results

Costamare Bulkers (NYSE:CMDB) posted its earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $131.50 million during the quarter. Costamare Bulkers had a net margin of 0.64% and a return on equity of 3.82%.

Costamare Bulkers Price Performance

CMDB traded down $0.17 on Thursday, hitting $19.62. The company had a trading volume of 51,177 shares, compared to its average volume of 60,687. The stock’s fifty day simple moving average is $21.26. Costamare Bulkers has a 1-year low of $13.01 and a 1-year high of $24.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.17 and a current ratio of 3.33. The company has a market capitalization of $476.77 million, a PE ratio of 115.41 and a beta of 0.90.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Costamare Bulkers from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Costamare Bulkers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oceanic Investment Management LTD raised its position in shares of Costamare Bulkers by 33.6% in the third quarter. Oceanic Investment Management LTD now owns 371,206 shares of the company’s stock valued at $8,100,000 after purchasing an additional 93,428 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Costamare Bulkers during the 2nd quarter worth $190,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Costamare Bulkers by 30.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,326 shares of the company’s stock worth $73,000 after buying an additional 769 shares during the period.

Costamare Bulkers Company Profile

Costamare Bulkers is a dry-bulk shipping company that owns and operates vessels used to transport commodities by sea. Its fleet serves the global trade in cargoes such as iron ore, coal and grain. The company’s vessels operate on international shipping routes, carrying cargo for customers across the maritime supply chain. Its business includes arranging vessel employment through chartering agreements. Costamare Bulkers was established as a separate company following the separation of Costamare Inc.’s dry-bulk shipping business.