Costamare (NYSE:CMRE) Price Target Increased to $12.00 by Analysts at Stifel Nicolaus

Costamare (NYSE:CMRE - Get Free Report) had its price objective raised by equities research analysts at Stifel Nicolaus from $11.50 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "hold" rating on the shipping company's stock. Stifel Nicolaus' price target indicates a potential upside of 9.69% from the company's previous close.

Separately, StockNews.com upgraded shares of Costamare from a "hold" rating to a "buy" rating in a report on Thursday, April 11th.

Costamare Trading Up 2.4 %

Shares of CMRE traded up $0.26 on Friday, hitting $10.94. 315,501 shares of the stock traded hands, compared to its average volume of 430,913. The firm has a market capitalization of $1.29 billion, a P/E ratio of 3.71 and a beta of 1.38. The company has a quick ratio of 1.59, a current ratio of 1.69 and a debt-to-equity ratio of 0.83. Costamare has a 1 year low of $7.71 and a 1 year high of $11.85. The stock's 50 day moving average is $11.24 and its two-hundred day moving average is $10.40.

Costamare (NYSE:CMRE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.06. Costamare had a return on equity of 11.37% and a net margin of 25.26%. The business had revenue of $494.85 million during the quarter, compared to the consensus estimate of $419.00 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, sell-side analysts predict that Costamare will post 2.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC boosted its stake in Costamare by 5.4% in the second quarter. LPL Financial LLC now owns 18,543 shares of the shipping company's stock valued at $179,000 after acquiring an additional 954 shares during the period. Unison Advisors LLC grew its position in Costamare by 1.2% in the fourth quarter. Unison Advisors LLC now owns 81,014 shares of the shipping company's stock worth $843,000 after buying an additional 977 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Costamare by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 72,729 shares of the shipping company's stock valued at $757,000 after buying an additional 1,083 shares in the last quarter. Quarry LP grew its stake in Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company's stock valued at $44,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Costamare by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company's stock valued at $459,000 after acquiring an additional 1,390 shares in the last quarter. Institutional investors and hedge funds 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.