One NYSE- Listed Marine Stock to Consider- Costamare Inc

Section 1: Company Fundamentals

1.1 Company Overview:

Costamare Inc (NYSE: CMRE) is a Monaco-based company that provides containerships and dry bulk vessels for charter. The Company is an international shipping industry that offers a fleet of 73 containerships, with a total capacity of approximately 537,000 TEU (including two vessels that have agreed to sell) and 45 dry bulk vessels with a total capacity of approximately 2,436,000 DWT.

Kalkine’s Daily Report covers the Company Overview, Key positives & negatives, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

• The stock has corrected by 20.98% in the past three months and has also corrected by around 42.66% in the past year.
• The stock is leaning in between its 52-week range of USD 14.74 and 52-week low price of USD 7.71.
• The price is currently trading above below its short-term (20-day) SMA and long-term (50-day) SMA, with the current RSI of 44.20, taking support from 30 level, suggesting some consolidation or a short-term upward movement.

1.2 Summary Table:

1.3 The Key Positives, and Negatives:

1.4 Key Metrics:

The company has demonstrated effective cost management across all levels of its operations, resulting in a higher profitability ratio compared to its industry peers. This indicates that the company has been successful in controlling its expenses and maximizing its profits. Additionally, the company has displayed efficient management of its working capital, as evidenced by a higher current ratio in comparison to its peers. This implies that the company has been able to effectively manage its short-term assets and liabilities, ensuring a healthy liquidity position. These factors reflect the company's strong financial performance and its ability to optimize resources for maximum efficiency and profitability.

Section 2: Costamare Inc (“Buy” at the current market price of USD 8.21, as of June 02, 2023, at 09:40 am PDT)

2.1 Company Details

2.2 Technical Guidance and Stock Recommendation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is June 02, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.