COSTAMARE INC/SH (NYSE:CMRE) Reaches New 12-Month High at $9.80

COSTAMARE INC/SH (NYSE:CMRE)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $9.80 and last traded at $9.78, with a volume of 24119 shares. The stock had previously closed at $9.60.

Several research analysts have weighed in on CMRE shares. Zacks Investment Research lowered COSTAMARE INC/SH from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 24th. ValuEngine upgraded COSTAMARE INC/SH from a “strong sell” rating to a “sell” rating in a report on Thursday, December 12th. TheStreet upgraded COSTAMARE INC/SH from a “c” rating to a “b” rating in a report on Wednesday, December 11th. Finally, Citigroup lowered COSTAMARE INC/SH from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $6.50 to $7.50 in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. COSTAMARE INC/SH presently has an average rating of “Hold” and a consensus price target of $7.50.

The company has a fifty day simple moving average of $8.86 and a two-hundred day simple moving average of $6.77. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.13 billion, a P/E ratio of 22.51 and a beta of 2.29.

COSTAMARE INC/SH (NYSE:CMRE) last posted its earnings results on Wednesday, October 23rd. The shipping company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The firm had revenue of $123.37 million for the quarter, compared to analyst estimates of $116.48 million. COSTAMARE INC/SH had a return on equity of 8.70% and a net margin of 18.02%. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, equities analysts forecast that COSTAMARE INC/SH will post 0.88 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of COSTAMARE INC/SH by 1.5% during the second quarter. Vanguard Group Inc. now owns 171,238 shares of the shipping company’s stock valued at $879,000 after buying an additional 2,584 shares during the period. Commonwealth Equity Services LLC increased its stake in COSTAMARE INC/SH by 20.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,700 shares of the shipping company’s stock worth $107,000 after buying an additional 3,000 shares during the period. Bank of New York Mellon Corp increased its stake in COSTAMARE INC/SH by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 144,116 shares of the shipping company’s stock worth $739,000 after buying an additional 4,621 shares during the period. D. E. Shaw & Co. Inc. increased its stake in COSTAMARE INC/SH by 6.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 85,378 shares of the shipping company’s stock worth $438,000 after buying an additional 5,071 shares during the period. Finally, Rhumbline Advisers increased its stake in COSTAMARE INC/SH by 10.1% in the 3rd quarter. Rhumbline Advisers now owns 77,014 shares of the shipping company’s stock worth $467,000 after buying an additional 7,087 shares during the period. 21.08% of the stock is currently owned by hedge funds and other institutional investors.

COSTAMARE INC/SH Company Profile (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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