COSTAMARE INC/SH Sees Unusually High Options Volume (NYSE:CMRE)

COSTAMARE INC/SH (NYSE:CMRE) was the target of unusually large options trading on Monday. Investors bought 1,079 call options on the company. This is an increase of 1,339% compared to the typical volume of 75 call options.

A number of institutional investors and hedge funds have recently made changes to their positions in CMRE. Marshall Wace LLP acquired a new position in COSTAMARE INC/SH in the second quarter valued at approximately $67,000. Trexquant Investment LP acquired a new position in COSTAMARE INC/SH in the second quarter valued at approximately $71,000. Commonwealth Equity Services LLC acquired a new position in COSTAMARE INC/SH in the second quarter valued at approximately $75,000. Cutter & CO Brokerage Inc. acquired a new position in COSTAMARE INC/SH in the second quarter valued at approximately $121,000. Finally, Stevens Capital Management LP acquired a new position in COSTAMARE INC/SH in the second quarter valued at approximately $137,000. 20.57% of the stock is owned by hedge funds and other institutional investors.

CMRE has been the subject of a number of analyst reports. Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday, October 8th. ValuEngine downgraded COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. Finally, TheStreet raised COSTAMARE INC/SH from a “d+” rating to a “c” rating in a research report on Thursday, July 25th.

Shares of CMRE opened at $7.06 on Wednesday. The stock has a 50 day moving average price of $6.30 and a 200 day moving average price of $5.72. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $804.79 million, a price-to-earnings ratio of 16.81 and a beta of 2.19. COSTAMARE INC/SH has a 52-week low of $4.20 and a 52-week high of $7.07.

COSTAMARE INC/SH (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, July 24th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.10. The firm had revenue of $116.40 million during the quarter, compared to the consensus estimate of $110.72 million. COSTAMARE INC/SH had a return on equity of 6.55% and a net margin of 14.26%. The firm’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. On average, equities analysts anticipate that COSTAMARE INC/SH will post 0.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Tuesday, October 22nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Monday, October 21st. COSTAMARE INC/SH’s dividend payout ratio (DPR) is 95.24%.

About COSTAMARE INC/SH

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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