Costamare (NYSE:CMRE) Sets New 1-Year Low – Here’s Why

Costamare Inc. (NYSE:CMRE)’s stock price reached a new 52-week low on Monday . The stock traded as low as $9.95 and last traded at $9.96, with a volume of 346145 shares changing hands. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CMRE shares. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Stock Down 2.2 %

The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $13.11. The firm has a market cap of $1.19 billion, a PE ratio of 4.08 and a beta of 1.31.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating 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%. Analysts expect that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s payout ratio is presently 18.85%.

Institutional Trading of Costamare

Several institutional investors have recently added to or reduced their stakes in CMRE. Sanctuary Advisors LLC increased its holdings in shares of Costamare by 577.2% in the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock worth $1,200,000 after buying an additional 65,040 shares during the period. Barclays PLC grew its position in Costamare by 291.1% during the 3rd quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock worth $928,000 after acquiring an additional 43,925 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Costamare in the 3rd quarter worth approximately $886,000. Foundry Partners LLC bought a new stake in Costamare in the third quarter valued at approximately $4,032,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Costamare by 4.2% during the fourth quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after purchasing an additional 9,100 shares during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile