Costamare (NYSE:CMRE) Price Target Raised to $14.00

Costamare (NYSE:CMRE) had its target price upped by Stifel Nicolaus from $12.00 to $14.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the shipping company’s stock.

CMRE has been the topic of several other research reports. StockNews.com lowered shares of Costamare from a strong-buy rating to a buy rating in a research report on Tuesday, May 21st. Jefferies Financial Group raised their price target on shares of Costamare from $11.00 to $12.00 and gave the company a hold rating in a report on Friday, May 10th.

Costamare Trading Down 1.3 %

Costamare stock opened at $14.11 on Wednesday. Costamare has a 12 month low of $8.54 and a 12 month high of $17.58. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.66 billion, a P/E ratio of 5.47 and a beta of 1.38. The company’s fifty day simple moving average is $15.56 and its 200-day simple moving average is $12.87.

Costamare (NYSE:CMRE) last issued its earnings results on Friday, May 10th. The shipping company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Costamare had a return on equity of 12.61% and a net margin of 19.26%. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $383.32 million. As a group, sell-side analysts forecast that Costamare will post 2.93 EPS for the current fiscal year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 19th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.46 annualized dividend and a yield of 3.26%. Costamare’s dividend payout ratio (DPR) is currently 17.83%.

Hedge Funds Weigh In On Costamare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMRE. Allspring Global Investments Holdings LLC boosted its holdings in shares of Costamare by 42.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 57,777 shares of the shipping company’s stock worth $949,000 after buying an additional 17,350 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Costamare by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock valued at $1,225,000 after acquiring an additional 990 shares during the period. Veracity Capital LLC acquired a new stake in shares of Costamare in the second quarter valued at about $275,000. Unison Advisors LLC increased its stake in shares of Costamare by 1.0% in the second quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after purchasing an additional 854 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Costamare during the 2nd quarter worth about $1,999,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile