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

Costamare Inc. (NYSE:CMRE)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.66 and last traded at $9.84, with a volume of 141078 shares traded. The stock had previously closed at $9.96.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CMRE shares. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Stock Up 0.4 %

The stock’s fifty day simple moving average is $10.63 and its 200-day simple moving average is $12.61. The stock has a market cap of $1.24 billion, a P/E ratio of 4.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently announced 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. This represents a $0.46 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMRE. Aquatic Capital Management LLC acquired a new stake in Costamare during the fourth quarter worth about $45,000. New Age Alpha Advisors LLC acquired a new stake in shares of Costamare during the 4th quarter worth approximately $50,000. 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 last quarter. Legal & General Group Plc raised its position in Costamare by 27.1% during the fourth quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company’s stock valued at $114,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Costamare during the fourth quarter valued at approximately $130,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile