Costamare (NYSE:CMRE) PT raised to $12.00

Costamare (NYSE:CMRE – Get a Free Report) In a research report issued to clients and investors on Friday, Stifel Nicolaus equity researchers raised their price target from $11.50 to $12.00, Benzinga reports. The company currently has a ‘hold’ rating on the shipping company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 9.79% from the company’s previous closing price.

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

View our latest stock analysis on CMRE

Costamare price performance

Costamare shares opened at $10.93 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.69 and a quick ratio of 1.59. Costamare has a one-year low of $7.71 and a one-year high of $11.85. The company’s 50-day simple moving average is $11.24 and its two-hundred-day simple moving average is $10.41. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 3.71 and a beta of 1.38.

Costamare (NYSE:CMRE – Get Free Report) posted its latest earnings results on Wednesday, February 7. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $419.00 million. During the same period last year, the company earned $0.61 earnings per share. Analysts predict that Costamare will post earnings per share of 2.73 for the current year.

Institutional inflow and outflow

Hedge funds have recently increased or decreased their stakes in the stock. PNC Financial Services Group Inc. increased its stake in Costamare shares by 1,877.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,689 shares of the shipping company worth $26,000, after purchasing an additional 2,553 shares in the last quarter. Parallel Advisors LLC boosted its position in Costamare by 197.8% during the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 2,696 shares in the last quarter. Quarry LP grew its holdings in shares of Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Costamare by 157.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,290 shares of the shipping company’s stock worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Finally, Sunbelt bought Securities Inc. a new position in Costamare shares worth approximately $51,000 in the second quarter. 58.08% of the shares are owned by hedge funds and other institutional investors.

About Costamare

(Get a free report)

Costamare Inc is engaged in owning and chartering container ships and dry bulk carriers chartered to liner companies that provide freight transportation worldwide. As of March 21, 2023, it had a fleet of 71 container ships and 45 dry bulk ships. The company was founded in 1974 and is based in Monaco.

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