Costamare (NYSE:CMRE) Hits New 12-Month Low – Here’s Why

Costamare Inc. (NYSE:CMRE) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $10.58 and last traded at $10.72, with a volume of 116061 shares changing hands. The stock had previously closed at $10.72.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMRE. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price target on shares of Costamare in a research report on Wednesday. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research note on Friday, January 31st.

Costamare Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The stock has a market capitalization of $1.25 billion, a P/E ratio of 3.53 and a beta of 1.31. The stock has a fifty day moving average price of $12.53 and a 200 day moving average price of $13.57.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.28% and a net margin of 19.11%. On average, research analysts forecast that Costamare Inc. will post 2.74 earnings per share for the current year.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is 15.28%.

Hedge Funds Weigh In On Costamare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC raised its position in Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares during the last quarter. Gladius Capital Management LP purchased a new stake in Costamare during the 3rd quarter valued at $35,000. Quarry LP lifted its holdings in shares of Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after buying an additional 2,003 shares during the period. Blue Trust Inc. increased its position in Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 7,113 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Costamare in the 4th quarter worth approximately $130,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile