Alliancebernstein L.P. boosted its position in Costamare Inc. (NYSE:CMRE) by 35.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,500 shares of the shipping company’s stock after buying an additional 8,700 shares during the period. Alliancebernstein L.P.’s holdings in Costamare were worth $223,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Costamare during the fourth quarter worth about $822,000. State Street Corp boosted its stake in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock worth $2,417,000 after buying an additional 3,614 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock worth $1,598,000 after buying an additional 3,875 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Costamare during the first quarter worth about $147,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Costamare by 1,730.8% in the first quarter. Canada Pension Plan Investment Board now owns 47,600 shares of the shipping company’s stock worth $317,000 after buying an additional 45,000 shares in the last quarter. Institutional investors own 19.64% of the company’s stock.
Shares of Costamare Inc. (NYSE CMRE) traded up 1.26% during midday trading on Thursday, hitting $6.42. The company had a trading volume of 32,877 shares. The company has a market capitalization of $680.46 million, a price-to-earnings ratio of 16.01 and a beta of 2.21. Costamare Inc. has a 12-month low of $5.07 and a 12-month high of $9.54. The company’s 50-day moving average price is $6.80 and its 200 day moving average price is $6.65.
Costamare (NYSE:CMRE) last released its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The business’s revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. Equities research analysts predict that Costamare Inc. will post $0.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 24th were issued a $0.10 dividend. The ex-dividend date was Thursday, July 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.31%. Costamare’s dividend payout ratio (DPR) is presently 105.27%.
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CMRE has been the subject of a number of research analyst reports. ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group upgraded Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Monday, May 1st. Zacks Investment Research cut Costamare from a “hold” rating to a “strong sell” rating in a report on Monday, July 3rd. BidaskClub upgraded Costamare from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, TheStreet upgraded Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Costamare presently has an average rating of “Hold” and an average price target of $8.50.
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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