Costamare (NYSE:CMRE) PT Raised to $12.00

Costamare (NYSE:CMRE) had its price target raised by analysts at Stifel Nicolaus from $11.50 to $12.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 10.70% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th.

Costamare Stock Performance

NYSE:CMRE traded up $0.16 during trading on Friday, reaching $10.84. The company’s stock had a trading volume of 175,284 shares, compared to its average volume of 428,977. Costamare has a 12 month low of $7.71 and a 12 month high of $11.85. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 3.69 and a beta of 1.38. The firm has a 50 day moving average of $11.24 and a 200-day moving average of $10.39. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Costamare had a net margin of 25.26% and a return on equity of 11.37%. The company had revenue of $494.85 million for the quarter, compared to analysts’ expectations of $419.00 million. During the same quarter in the previous year, the firm posted $0.61 EPS. Research analysts expect that Costamare will post 2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Costamare by 1,282.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock worth $2,063,000 after purchasing an additional 198,922 shares during the period. Demars Financial Group LLC bought a new stake in shares of Costamare in the 3rd quarter valued at approximately $1,106,000. Dark Forest Capital Management LP bought a new position in Costamare during the third quarter worth $141,000. Jump Financial LLC acquired a new position in Costamare in the third quarter worth $464,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Costamare by 177.5% during the third quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock worth $2,004,000 after purchasing an additional 133,225 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

About Costamare

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.