From NASDAQ.: 2024-04-12 09:35:31

Major equity indices are trading near all-time highs, driven by mega-cap tech stocks like Nvidia (NVDA), Meta (META), and Amazon (AMZN). However, small-cap stocks like the Russell 2000 Index are down 17.3% from record levels, presenting opportunities for value investors to buy the dip.

Costamare (CMRE) is a leading owner of containerships and dry bulk vessels, with a fleet of 68 containerships and 51 dry bulk vessels. In 2023, Costamare reported an adjusted net income of $249 million, revenue of $1.5 billion, and total liquidity of close to $1 billion. It pays an annual dividend with a forward yield of 4.1%.

Analysts have a target price of $11.17 for Costamare stock, with potential for gains due to disruptions in the shipping industry. Costamare is expected to end 2024 with adjusted earnings of $2.75 per share, indicating a forward earnings multiple of just 4x. Considered a potential bargain by analysts, the stock may benefit from supply chain disruptions boosting tanker prices.



Read more at NASDAQ.: Is This Russell 2000 Shipping Stock a Buy for Its 4% Yield?