Head to Head Contrast: Costamare (CMRE) vs. Navios Maritime Partners (NMM)
Costamare (NYSE: CMRE) and Navios Maritime Partners (NYSE:NMM) are both small-cap transportation companies, but which is the superior investment? We will compare the two companies based on the strength of their profitability, dividends, risk, institutional ownership, valuation, analyst recommendations and earnings.
Institutional & Insider Ownership
19.2% of Costamare shares are owned by institutional investors. Comparatively, 19.2% of Navios Maritime Partners shares are owned by institutional investors. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.
Costamare pays an annual dividend of $0.40 per share and has a dividend yield of 6.4%. Navios Maritime Partners does not pay a dividend. Costamare pays out 105.3% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future.
This table compares Costamare and Navios Maritime Partners’ net margins, return on equity and return on assets.
|Net Margins||Return on Equity||Return on Assets|
|Navios Maritime Partners||-19.50%||2.60%||1.49%|
Valuation & Earnings
This table compares Costamare and Navios Maritime Partners’ top-line revenue, earnings per share (EPS) and valuation.
|Gross Revenue||Price/Sales Ratio||EBITDA||Earnings Per Share||Price/Earnings Ratio|
|Costamare||$438.93 million||1.38||$280.04 million||$0.38||16.55|
|Navios Maritime Partners||$192.44 million||1.43||$107.53 million||($0.45)||-4.16|
Costamare has higher revenue and earnings than Navios Maritime Partners. Navios Maritime Partners is trading at a lower price-to-earnings ratio than Costamare, indicating that it is currently the more affordable of the two stocks.
This is a breakdown of recent recommendations and price targets for Costamare and Navios Maritime Partners, as provided by MarketBeat.com.
|Sell Ratings||Hold Ratings||Buy Ratings||Strong Buy Ratings||Rating Score|
|Navios Maritime Partners||0||2||1||0||2.33|
Costamare presently has a consensus target price of $8.50, indicating a potential upside of 35.14%. Navios Maritime Partners has a consensus target price of $2.17, indicating a potential upside of 15.86%. Given Costamare’s stronger consensus rating and higher probable upside, research analysts clearly believe Costamare is more favorable than Navios Maritime Partners.
Volatility and Risk
Costamare has a beta of 2.21, suggesting that its stock price is 121% more volatile than the S&P 500. Comparatively, Navios Maritime Partners has a beta of 1.83, suggesting that its stock price is 83% more volatile than the S&P 500.
Costamare beats Navios Maritime Partners on 12 of the 15 factors compared between the two stocks.
Costamare Company Profile
Costamare Inc. (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters. As of March 10, 2017, the Company had a fleet of 69 containerships with a total capacity of approximately 456,000 TEU, including five newbuilds on order. The Company’s fleet of vessels includes Cosco Guangzhou, Titan, Cosco Yantian, Valor, Valiant and Maersk Kobe. Its subsidiaries include Adele Shipping Co., Bastian Shipping Co., Cadence Shipping Co., Jodie Shipping Co. and Kayley Shipping Co.
Navios Maritime Partners Company Profile
Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters. It focuses on providing seaborne shipping services under long-term time charters. As of December 31, 2016, it controlled 12 Panamax vessels, nine Capesize vessels, three Ultra-Handymax vessels and seven container vessels. Panamax vessels are vessels capable of carrying a range of dry cargo commodities, including iron ore, coal, grain and fertilizer and being accommodated in various discharge ports. Capesize vessels are dedicated to the carriage of iron ore and coal. Ultra-Handymax vessels are similar to Panamax vessels although with less carrying capacity, and have self-loading and discharging gear on board to accommodate undeveloped ports.
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