Costamare (NYSE:CMRE) Stock Price Down 5.1% – Here’s Why

Costamare Inc. (NYSE:CMRE)’s share price traded down 5.1% during trading on Thursday . The stock traded as low as $10.94 and last traded at $10.88. 147,544 shares traded hands during trading, a decline of 57% from the average session volume of 346,082 shares. The stock had previously closed at $11.46.

Analyst Ratings Changes

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

Costamare Stock Down 1.6 %

The stock has a market cap of $1.24 billion, a P/E ratio of 4.32 and a beta of 1.31. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average is $12.48 and its 200 day moving average is $13.54.

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

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.36%. Costamare’s dividend payout ratio (DPR) is presently 18.85%.

Institutional Trading of Costamare

Hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC raised its stake in shares of Costamare by 7.6% in the third 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 stake in shares of Costamare by 6.1% in the 3rd quarter. DGS Capital Management LLC now owns 21,659 shares of the shipping company’s stock valued at $340,000 after buying an additional 1,238 shares in the last quarter. Kendall Capital Management lifted its holdings in shares of 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 acquiring an additional 1,370 shares during the period. nVerses Capital LLC boosted its position in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Quarry LP increased its stake in 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 acquiring an additional 2,003 shares during the period. 58.08% of the stock is owned by institutional investors.

Costamare Company Profile