Costamare Inc. (NYSE: CMRE) stock fell -1.75% on Wednesday to $8.41 against a previous-day closing price of $8.56. With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.59 million shares. During the session, the Marine Shipping company that operates in wider Industrials sector, reached to the highest price of $8.54 whereas the lowest price it dropped to was $8.38. The 52-week range on CMRE shows that it touched its highest point at $14.85 and its lowest point at $7.93 during that stretch. It currently has a 1-year price target of $11.00. With its current market cap of 1.05 billion, CMRE has annualized dividend of $0.46 while the current yield stands at 5.47%. Beta for the stock currently stands at 1.35.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CMRE was down-trending over the past week, with a drop of -2.89%, but this was down by -6.35% over a month. Three-month performance dropped to -17.63% while six-month performance fell -13.30%. The stock lost -40.77% in the past year, while it has lost -9.37% so far this year. A look at the trailing 12-month EPS for CMRE yields 4.26 with Next year EPS estimates of 3.06. For the next quarter, that number is 0.73. This implies an EPS growth rate of 29.80% for this year and 15.43% for next year.
Float and Shares Shorts:
At present, 121.97 million CMRE shares are outstanding with a float of 52.36 million shares on hand for trading. On May 14, 2023, short shares totaled 2.67 million, which was 2.18% higher than short shares on Apr 13, 2023. In addition to Mr. Konstantinos V. Konstantakopoulos as the firm’s Chairman & CEO, Mr. Gregory G. Zikos serves as its CFO & Director.
Through their ownership of 23.64% of CMRE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 12.65% of CMRE, in contrast to 10.59% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CMRE with 6.07% of the stake, Dimensional Fund Advisors LP holds 7,442,057 shares worth 7,442,057. A second-largest stockholder of CMRE, BlackRock Fund Advisors, holds 2,333,840 shares, controlling over 1.90% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in CMRE, holding 1,988,782 shares or 1.62% stake. With a 1.61% stake in CMRE, the DFA US Small Cap Value Portfolio is the largest stakeholder. A total of 1,972,830 shares are owned by the mutual fund manager. The DFA US Targeted Value Portfolio, which owns about 0.94% of CMRE stock, is the second-largest Mutual Fund holder. It holds 1,148,451 shares valued at 10.37 million. iShares Russell 2000 ETF holds 0.91% of the stake in CMRE, owning 1,112,717 shares worth 10.05 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CMRE reported revenue of $290.93M and operating income of $147.50M. The EBITDA in the recently reported quarter was $184.92M and diluted EPS was $0.93.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CMRE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CMRE analysts setting a high price target of $13.00 and a low target of $10.00, the average target price over the next 12 months is $11.00. Based on these targets, CMRE could surge 54.58% to reach the target high and rise by 18.91% to reach the target low. Reaching the average price target will result in a growth of 30.8% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.