Costamare Bulkers (NYSE:CMDB) Issues Quarterly Earnings Results

Costamare Bulkers (NYSE:CMDB) posted its quarterly earnings data on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $131.50 million during the quarter. Costamare Bulkers had a return on equity of 3.82% and a net margin of 0.64%.

Costamare Bulkers Stock Down 2.8%

Shares of CMDB stock traded down $0.56 during trading hours on Friday, hitting $19.02. 22,253 shares of the company’s stock traded hands, compared to its average volume of 60,509. The stock has a fifty day moving average price of $21.26. Costamare Bulkers has a 12-month low of $13.02 and a 12-month high of $24.76. The firm has a market cap of $462.06 million, a PE ratio of 111.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.17 and a current ratio of 3.33.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Costamare Bulkers from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Costamare Bulkers presently has a consensus rating of “Sell”.

Institutional Trading of Costamare Bulkers

Several hedge funds and other institutional investors have recently made changes to their positions in CMDB. Oceanic Investment Management LTD grew its stake in shares of Costamare Bulkers by 33.6% in the third quarter. Oceanic Investment Management LTD now owns 371,206 shares of the company’s stock worth $8,100,000 after acquiring an additional 93,428 shares during the last quarter. Squarepoint Ops LLC bought a new position in Costamare Bulkers in the 2nd quarter worth about $190,000. Finally, GAMMA Investing LLC boosted its stake in Costamare Bulkers by 30.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,326 shares of the company’s stock worth $73,000 after purchasing an additional 769 shares in the last quarter.

Costamare Bulkers Company Profile

Costamare Bulkers is a dry-bulk shipping company that owns and operates vessels used to transport commodities by sea. Its fleet serves the global trade in cargoes such as iron ore, coal and grain. The company’s vessels operate on international shipping routes, carrying cargo for customers across the maritime supply chain. Its business includes arranging vessel employment through chartering agreements. Costamare Bulkers was established as a separate company following the separation of Costamare Inc.’s dry-bulk shipping business.