Costamare (NYSE:CMRE) Reaches New 52-Week Low – What’s Next?

Costamare Inc. (NYSE:CMRE)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.33 and last traded at $10.39, with a volume of 474072 shares trading hands. The stock had previously closed at $10.51.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, January 31st.

Costamare Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 4.26 and a beta of 1.31. The company has a 50-day moving average price of $12.32 and a 200-day moving average price of $13.45.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, equities research analysts expect that Costamare Inc. will post 2.73 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s payout ratio is presently 18.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its holdings in shares of Costamare by 7.6% during the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after purchasing an additional 1,012 shares in the last quarter. DGS Capital Management LLC raised its holdings in Costamare by 6.1% during the 3rd quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock worth $340,000 after buying an additional 1,238 shares during the period. Kendall Capital Management raised its holdings in Costamare by 0.6% during the 4th quarter. Kendall Capital Management now owns 242,374 shares of the shipping company’s stock worth $3,115,000 after buying an additional 1,370 shares during the period. nVerses Capital LLC lifted its stake in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Costamare by 157.5% in the third 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. 58.08% of the stock is owned by institutional investors and hedge funds.

About Costamare