Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMREGet Rating) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,830,000 shares, an increase of 28.0% from the May 31st total of 1,430,000 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 1.7 days.

Several research analysts have issued reports on CMRE shares. Stifel Nicolaus lowered their price target on shares of Costamare from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $17.50.

Costamare stock traded down $0.68 during mid-day trading on Tuesday, hitting $11.17. 20,171 shares of the stock were exchanged, compared to its average volume of 1,037,401. The firm’s fifty day simple moving average is $13.24 and its two-hundred day simple moving average is $13.93. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 3.19 and a beta of 1.49. The company has a quick ratio of 1.49, a current ratio of 1.54 and a debt-to-equity ratio of 1.22. Costamare has a 12 month low of $9.64 and a 12 month high of $18.01.

Costamare (NYSE:CMREGet Rating) last released its quarterly earnings data on Thursday, May 5th. The shipping company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $268.01 million during the quarter, compared to analyst estimates of $268.68 million. Costamare had a net margin of 52.41% and a return on equity of 23.37%. During the same quarter in the previous year, the business posted $0.31 EPS. As a group, analysts forecast that Costamare will post 3.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Thursday, July 21st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $0.46 annualized dividend and a dividend yield of 4.12%. Costamare’s dividend payout ratio is currently 12.40%.

Several large investors have recently added to or reduced their stakes in CMRE. Navellier & Associates Inc. grew its position in Costamare by 2.0% in the 1st quarter. Navellier & Associates Inc. now owns 41,982 shares of the shipping company’s stock valued at $716,000 after purchasing an additional 826 shares during the period. New York State Common Retirement Fund grew its position in Costamare by 0.6% in the 1st quarter. New York State Common Retirement Fund now owns 154,540 shares of the shipping company’s stock valued at $2,635,000 after purchasing an additional 847 shares during the period. Counterpoint Mutual Funds LLC grew its position in Costamare by 65.3% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 2,170 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 857 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in Costamare by 0.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 549,904 shares of the shipping company’s stock valued at $6,956,000 after purchasing an additional 1,479 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Costamare in the 1st quarter valued at $30,000. Institutional investors own 59.47% of the company’s stock.

Costamare Company Profile (Get Rating)

Costamare Inc owns and charters containerships to liner companies worldwide. As of March 18, 2022, it had a fleet of 76 containerships with a total capacity of approximately 557,400 twenty-foot equivalent units and 45 dry bulk vessels with a total capacity of approximately 2,435,500 DWT. The company was founded in 1974 and is based in Monaco.

Further Reading

Receive News & Ratings for Costamare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costamare and related companies with MarketBeat.com's FREE daily email newsletter.