COSTAMARE INC/SH (NYSE:CMRE) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totalling 1,727,600 shares, a decline of 42.8% from the February 27th total of 3,020,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 979,100 shares, the days-to-cover ratio is presently 1.8 days.
Several equities research analysts have commented on CMRE shares. Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “strong-buy” rating and set a $9.00 target price on the stock in a report on Friday, January 24th. ValuEngine downgraded COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a report on Thursday, January 23rd. Finally, TheStreet downgraded COSTAMARE INC/SH from a “b” rating to a “c+” rating in a report on Tuesday, March 17th.
COSTAMARE INC/SH stock traded up $0.74 during mid-day trading on Thursday, hitting $5.07. The company had a trading volume of 1,085,805 shares, compared to its average volume of 1,068,170. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $6.09 and its two-hundred day moving average price is $7.55. COSTAMARE INC/SH has a 12 month low of $3.16 and a 12 month high of $10.85. The company has a market capitalization of $463.43 million, a PE ratio of 8.74 and a beta of 2.29.
COSTAMARE INC/SH (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, January 28th. The shipping company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. COSTAMARE INC/SH had a return on equity of 10.23% and a net margin of 20.71%. The firm had revenue of $128.52 million during the quarter, compared to analysts’ expectations of $124.47 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The company’s revenue was up 23.7% on a year-over-year basis. Equities research analysts anticipate that COSTAMARE INC/SH will post 1.05 EPS for the current year.
Several hedge funds have recently bought and sold shares of CMRE. Wealth Quarterback LLC purchased a new position in shares of COSTAMARE INC/SH in the fourth quarter worth $37,000. Point72 Hong Kong Ltd purchased a new position in shares of COSTAMARE INC/SH in the fourth quarter worth $54,000. Danda Trouve Investment Management Inc. purchased a new position in shares of COSTAMARE INC/SH in the fourth quarter worth $62,000. Bank of Montreal Can raised its stake in shares of COSTAMARE INC/SH by 53.4% in the fourth quarter. Bank of Montreal Can now owns 6,603 shares of the shipping company’s stock worth $63,000 after purchasing an additional 2,298 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of COSTAMARE INC/SH in the fourth quarter worth $103,000. Hedge funds and other institutional investors own 28.20% of the company’s stock.
COSTAMARE INC/SH Company Profile
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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