COSTAMARE INC/SH (NYSE:CMRE) Sees Significant Decrease in Short Interest

COSTAMARE INC/SH (NYSE:CMRE) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totalling 1,727,600 shares, a decrease of 42.8% from the February 27th total of 3,020,000 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 979,100 shares, the short-interest ratio is currently 1.8 days.

CMRE has been the subject of a number of research reports. Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “strong-buy” rating and set a $9.00 price target for the company in a research note on Friday, January 24th. TheStreet lowered COSTAMARE INC/SH from a “b” rating to a “c+” rating in a research note on Tuesday, March 17th. Finally, ValuEngine lowered COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 23rd.

COSTAMARE INC/SH stock traded up $0.74 during midday trading on Thursday, reaching $5.07. 1,085,805 shares of the stock traded hands, compared to its average volume of 1,068,170. The stock’s fifty day moving average is $6.09 and its 200-day moving average is $7.55. COSTAMARE INC/SH has a 12 month low of $3.16 and a 12 month high of $10.85. The stock has a market cap of $463.43 million, a P/E ratio of 8.74 and a beta of 2.29. The company has a quick ratio of 0.70, a current ratio of 0.74 and a debt-to-equity ratio of 0.94.

COSTAMARE INC/SH (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, January 28th. The shipping company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $128.52 million during the quarter, compared to analyst estimates of $124.47 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. On average, equities analysts predict that COSTAMARE INC/SH will post 1.05 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CMRE. State Street Corp raised its position in COSTAMARE INC/SH by 2.9% during the third quarter. State Street Corp now owns 853,773 shares of the shipping company’s stock valued at $5,182,000 after purchasing an additional 24,187 shares during the period. Cavalier Investments LLC purchased a new stake in COSTAMARE INC/SH during the fourth quarter valued at approximately $715,000. California Public Employees Retirement System raised its position in COSTAMARE INC/SH by 55.7% during the third quarter. California Public Employees Retirement System now owns 23,490 shares of the shipping company’s stock valued at $143,000 after purchasing an additional 8,400 shares during the period. Charles Schwab Investment Management Inc. raised its position in COSTAMARE INC/SH by 9.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 651,542 shares of the shipping company’s stock valued at $6,210,000 after purchasing an additional 58,441 shares during the period. Finally, Bowling Portfolio Management LLC purchased a new stake in COSTAMARE INC/SH during the fourth quarter valued at approximately $1,212,000. 28.20% of the stock is owned by institutional investors.

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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