Costamare (NYSE:CMRE) Reaches New 52-Week High – Here’s What Happened

Shares of Costamare Inc. (NYSE:CMRE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.97 and last traded at $16.9580, with a volume of 324101 shares. The stock had previously closed at $16.53.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings upgraded shares of Costamare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research cut shares of Costamare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Costamare has a consensus rating of “Hold” and a consensus price target of $12.00.

Costamare Trading Up 2.6%

The firm has a market cap of $2.04 billion, a PE ratio of 6.78 and a beta of 1.24. The company’s fifty day moving average price is $15.74 and its two-hundred day moving average price is $13.10. The company has a quick ratio of 1.65, a current ratio of 1.68 and a debt-to-equity ratio of 0.62.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. Costamare had a net margin of 22.23% and a return on equity of 15.15%. The firm had revenue of $225.17 million during the quarter, compared to analysts’ expectations of $197.92 million. As a group, sell-side analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.7%. Costamare’s dividend payout ratio is 18.40%.

Institutional Investors Weigh In On Costamare

A number of hedge funds and other institutional investors have recently modified their holdings of CMRE. Cubist Systematic Strategies LLC purchased a new stake in shares of Costamare in the 1st quarter worth about $192,000. Millennium Management LLC acquired a new position in Costamare during the first quarter worth about $6,075,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Costamare by 13.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 2,267 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Costamare by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company’s stock valued at $4,721,000 after purchasing an additional 142,372 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Costamare by 156.9% in the first quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company’s stock valued at $1,978,000 after purchasing an additional 122,737 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long?term and short?term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.