COSTAMARE INC/SH (NYSE:CMRE) Short Interest Down 10.8% in July

COSTAMARE INC/SH (NYSE:CMRE) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,621,600 shares, a drop of 10.8% from the June 30th total of 1,817,800 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 323,100 shares, the days-to-cover ratio is currently 5.0 days.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in COSTAMARE INC/SH by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,812,723 shares of the shipping company’s stock valued at $16,738,000 after acquiring an additional 163,812 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of COSTAMARE INC/SH by 1.5% during the 4th quarter. BlackRock Inc. now owns 2,513,813 shares of the shipping company’s stock valued at $11,036,000 after buying an additional 37,755 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of COSTAMARE INC/SH by 13.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,300,834 shares of the shipping company’s stock valued at $11,803,000 after buying an additional 271,534 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of COSTAMARE INC/SH by 3.6% during the 2nd quarter. Prudential Financial Inc. now owns 656,454 shares of the shipping company’s stock valued at $3,368,000 after buying an additional 23,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of COSTAMARE INC/SH by 2.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 577,393 shares of the shipping company’s stock valued at $2,963,000 after buying an additional 16,244 shares during the last quarter. 21.29% of the stock is currently owned by institutional investors.

CMRE traded down $0.18 during trading on Wednesday, reaching $5.20. The company had a trading volume of 12,126 shares, compared to its average volume of 320,527. The company has a 50-day moving average of $5.52. The firm has a market capitalization of $595.35 million, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.79 and a beta of 2.13. COSTAMARE INC/SH has a 12-month low of $4.20 and a 12-month high of $7.29. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.02.

COSTAMARE INC/SH (NYSE:CMRE) last released its earnings results on Wednesday, July 24th. The shipping company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.10. COSTAMARE INC/SH had a return on equity of 6.55% and a net margin of 14.26%. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $110.72 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 28.5% on a year-over-year basis. Analysts anticipate that COSTAMARE INC/SH will post 0.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.40 annualized dividend and a yield of 7.69%. COSTAMARE INC/SH’s dividend payout ratio (DPR) is presently 95.24%.

A number of equities analysts recently weighed in on CMRE shares. ValuEngine cut COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. TheStreet raised COSTAMARE INC/SH from a “d+” rating to a “c” rating in a research note on Thursday, July 25th. Finally, Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “strong-buy” rating and set a $6.00 price target on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $7.00.

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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