COSTAMARE INC/SH (NYSE:CMRE)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $8.67 and last traded at $8.60, with a volume of 837523 shares trading hands. The stock had previously closed at $8.26.
A number of analysts recently commented on the stock. Zacks Investment Research raised shares of COSTAMARE INC/SH from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Tuesday, October 8th. ValuEngine downgraded shares of COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 10th. Finally, Citigroup downgraded shares of COSTAMARE INC/SH from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $6.50 to $7.50 in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.50.
The stock has a market cap of $1.00 billion, a PE ratio of 20.43 and a beta of 2.28. The business’s fifty day moving average is $7.75 and its 200 day moving average is $6.17. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.99.
COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings data on Wednesday, October 23rd. The shipping company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $123.37 million for the quarter, compared to the consensus estimate of $116.48 million. COSTAMARE INC/SH had a net margin of 18.02% and a return on equity of 8.70%. The firm’s revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, analysts predict that COSTAMARE INC/SH will post 0.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, October 21st. COSTAMARE INC/SH’s dividend payout ratio is currently 95.24%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in shares of COSTAMARE INC/SH by 329.5% in the third quarter. Millennium Management LLC now owns 828,276 shares of the shipping company’s stock valued at $5,027,000 after purchasing an additional 635,427 shares in the last quarter. State Street Corp lifted its holdings in shares of COSTAMARE INC/SH by 2.9% in the third quarter. State Street Corp now owns 853,773 shares of the shipping company’s stock valued at $5,182,000 after purchasing an additional 24,187 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of COSTAMARE INC/SH in the third quarter valued at about $272,000. California Public Employees Retirement System lifted its holdings in shares of COSTAMARE INC/SH by 55.7% in the third quarter. California Public Employees Retirement System now owns 23,490 shares of the shipping company’s stock valued at $143,000 after purchasing an additional 8,400 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of COSTAMARE INC/SH by 20.4% in the third quarter. Commonwealth Equity Services LLC now owns 17,700 shares of the shipping company’s stock valued at $107,000 after purchasing an additional 3,000 shares in the last quarter. 21.08% of the stock is currently owned by hedge funds and other institutional investors.
About COSTAMARE INC/SH (NYSE:CMRE)
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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