Costamare Inc (NYSE:CMRE)’s share price shot up 6% on Thursday . The company traded as high as $6.85 and last traded at $6.84. 810,529 shares traded hands during trading, an increase of 34% from the average session volume of 606,079 shares. The stock had previously closed at $6.45.
A number of brokerages recently weighed in on CMRE. ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.83.
The firm has a market capitalization of $746.89, a price-to-earnings ratio of 8.62 and a beta of 1.99. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.
Costamare (NYSE:CMRE) last issued its earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $99.20 million for the quarter, compared to the consensus estimate of $97.52 million. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. equities research analysts forecast that Costamare Inc will post 0.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.40 annualized dividend and a dividend yield of 6.02%. Costamare’s dividend payout ratio is currently 51.95%.
Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Costamare by 23.4% in the third quarter. JPMorgan Chase & Co. now owns 3,210,466 shares of the shipping company’s stock valued at $20,098,000 after purchasing an additional 608,762 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Costamare by 7.3% in the fourth quarter. BlackRock Inc. now owns 2,478,286 shares of the shipping company’s stock valued at $14,300,000 after purchasing an additional 168,122 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Costamare by 83.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,598,487 shares of the shipping company’s stock valued at $9,879,000 after purchasing an additional 729,015 shares during the last quarter. State Street Corp increased its holdings in shares of Costamare by 17.6% in the second quarter. State Street Corp now owns 564,606 shares of the shipping company’s stock valued at $4,128,000 after purchasing an additional 84,590 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Costamare by 1,202.0% in the fourth quarter. Schroder Investment Management Group now owns 531,200 shares of the shipping company’s stock valued at $3,065,000 after purchasing an additional 490,400 shares during the last quarter. Hedge funds and other institutional investors own 23.58% of the company’s stock.
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Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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