Costamare (NYSE:CMRE) Price Target Raised to $14.00 at Stifel Nicolaus

Costamare (NYSE:CMRE) had its price target lifted by Stifel Nicolaus from $12.00 to $14.00 in a report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the shipping company’s stock.

Several other research analysts have also recently weighed in on CMRE. StockNews.com cut Costamare from a strong-buy rating to a buy rating in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their price target on Costamare from $11.00 to $12.00 and gave the company a hold rating in a research report on Friday, May 10th.

Costamare Trading Down 1.3 %

Costamare stock opened at $14.10 on Wednesday. The stock has a 50-day moving average of $15.56 and a two-hundred day moving average of $12.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.81 and a current ratio of 1.91. Costamare has a one year low of $8.54 and a one year high of $17.58. The stock has a market cap of $1.66 billion, a PE ratio of 5.47 and a beta of 1.38.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Friday, May 10th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Costamare had a return on equity of 12.61% and a net margin of 19.26%. The firm had revenue of $475.43 million during the quarter, compared to analysts’ expectations of $383.32 million. On average, research analysts anticipate that Costamare will post 2.93 EPS for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, July 19th. Costamare’s dividend payout ratio is presently 17.83%.

Institutional Trading of Costamare

A number of institutional investors have recently made changes to their positions in the company. Raymond James & Associates acquired a new position in Costamare during the fourth quarter worth $135,000. Unison Advisors LLC boosted its stake in Costamare by 1.2% during 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. Denali Advisors LLC boosted its stake in Costamare by 8.0% during the fourth quarter. Denali Advisors LLC now owns 450,495 shares of the shipping company’s stock worth $4,690,000 after buying an additional 33,400 shares during the last quarter. Ballentine Partners LLC acquired a new position in Costamare during the fourth quarter worth $114,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Costamare by 63.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,037 shares of the shipping company’s stock worth $406,000 after buying an additional 15,099 shares during the last quarter. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Company Profile