Key Points
- Costamare CFO Grigorios Zikos sold 59,840 shares at an average price of $15.34, generating approximately $917,946 in proceeds.
- Costamare exceeded quarterly expectations, reporting $0.62 in EPS versus the $0.57 consensus and revenue of $196.24 million against estimates of $193.16 million.
- The company raised its quarterly dividend to $0.125 per share, equivalent to a $0.50 annualized payout and a 3.2% yield; analysts maintain a “Moderate Buy” consensus, despite a $12 target price below the stock’s recent level.
Costamare Inc. (NYSE:CMRE - Get Free Report) CFO Grigorios Zikos sold 59,840 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $15.34, for a total transaction of $917,945.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Costamare Stock Up 1.1%
Shares of NYSE:CMRE opened at $15.51 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 5.90 and a beta of 1.06. The company has a current ratio of 1.61, a quick ratio of 1.92 and a debt-to-equity ratio of 0.56. Costamare Inc. has a twelve month low of $9.71 and a twelve month high of $18.06. The firm has a 50 day simple moving average of $15.33 and a 200-day simple moving average of $16.29.
Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $196.24 million during the quarter, compared to analysts' expectations of $193.16 million. Costamare had a net margin of 39.66% and a return on equity of 15.11%.
Costamare Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 21st will be paid a $0.125 dividend. This is a boost from Costamare's previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, July 21st. Costamare's payout ratio is currently 19.01%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Weiss Ratings raised Costamare from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Fearnley Fonds upgraded Costamare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded Costamare from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.
Read Our Latest Research Report on CMRE
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CMRE. Dimensional Fund Advisors LP lifted its position in Costamare by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,178,665 shares of the shipping company's stock valued at $121,315,000 after purchasing an additional 21,279 shares during the period. Bridgeway Capital Management LLC increased its position in Costamare by 2.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 1,200,169 shares of the shipping company's stock worth $14,294,000 after purchasing an additional 25,154 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Costamare by 113.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,116,647 shares of the shipping company's stock worth $17,632,000 after buying an additional 593,734 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Costamare by 3.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 828,789 shares of the shipping company's stock worth $9,871,000 after buying an additional 25,985 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Costamare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 769,557 shares of the shipping company's stock valued at $9,165,000 after buying an additional 19,385 shares during the period. 58.08% of the stock is currently owned by institutional investors and hedge funds.
About Costamare
(
Get Free Report)
Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.
Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.
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