Costamare (NYSE:CMRE) Given New $12.00 Price Target at Stifel Nicolaus

Costamare (NYSE:CMRE) had its price target raised by Stifel Nicolaus from $11.50 to $12.00 in a research report released on Friday, Benzinga reports. They currently have a hold rating on the shipping company’s stock.

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

Costamare Stock Up 2.3 %

Shares of NYSE CMRE opened at $11.19 on Friday. Costamare has a 12 month low of $7.71 and a 12 month high of $11.85. The company has a current ratio of 1.69, a quick ratio of 1.59 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.79 and a beta of 1.38. The business has a 50-day moving average of $11.23 and a 200-day moving average of $10.43.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, topping 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 company had revenue of $494.85 million during the quarter, compared to analyst estimates of $419.00 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Sell-side analysts expect that Costamare will post 2.73 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 19th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.11%. The ex-dividend date is Thursday, April 18th. Costamare’s dividend payout ratio is currently 15.59%.

Institutional Trading of Costamare

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Costamare by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock valued at $73,591,000 after purchasing an additional 107,756 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Costamare by 16.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after purchasing an additional 183,193 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Costamare by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,687 shares of the shipping company’s stock valued at $4,900,000 after purchasing an additional 14,126 shares during the last quarter. Denali Advisors LLC lifted its position in Costamare by 8.0% in the fourth quarter. Denali Advisors LLC now owns 450,495 shares of the shipping company’s stock valued at $4,690,000 after purchasing an additional 33,400 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Costamare by 6.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 221,727 shares of the shipping company’s stock valued at $2,308,000 after purchasing an additional 13,450 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

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.