Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMRE) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 1,270,000 shares, a drop of 6.6% from the March 15th total of 1,360,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 441,300 shares, the short-interest ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th.

Costamare Stock Down 0.8 %

NYSE CMRE traded down $0.09 on Wednesday, reaching $10.90. The company had a trading volume of 122,379 shares, compared to its average volume of 432,749. The stock has a market capitalization of $1.28 billion, a P/E ratio of 3.72 and a beta of 1.38. The company’s fifty day moving average is $11.25 and its 200 day moving average is $10.39. Costamare has a 52-week low of $7.71 and a 52-week high of $11.85. The company has a quick ratio of 1.59, a current ratio of 1.69 and a debt-to-equity ratio of 0.83.

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The firm had revenue of $494.85 million during the quarter, compared to analyst estimates of $419.00 million. During the same period last year, the firm posted $0.61 EPS. Sell-side analysts anticipate that Costamare will post 2.73 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 19th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, April 18th. Costamare’s dividend payout ratio is presently 15.59%.

Institutional Investors Weigh In On Costamare

Several large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Costamare by 1,877.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company’s stock worth $26,000 after purchasing an additional 2,553 shares during the period. Parallel Advisors LLC boosted its stake in Costamare by 197.8% in the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock worth $42,000 after purchasing an additional 2,696 shares during the period. Quarry LP boosted its stake in Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after purchasing an additional 1,376 shares during the period. Tower Research Capital LLC TRC boosted its stake in Costamare by 157.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Costamare in the 2nd quarter worth about $51,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Company Profile

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.