Costamare (NYSE:CMRE) Hits New 12-Month Low – What’s Next?

Costamare Inc. (NYSE:CMRE) shares hit a new 52-week low on Monday . The stock traded as low as $8.67 and last traded at $8.87, with a volume of 260438 shares. The stock had previously closed at $8.95.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Trading Up 9.4 %

The company has a market cap of $1.10 billion, a P/E ratio of 3.75 and a beta of 1.11. 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 business has a 50 day moving average price of $10.18 and a 200-day moving average price of $12.35.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Thursday, April 17th. Costamare’s dividend payout ratio (DPR) is presently 18.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Costamare by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the shipping company’s stock worth $316,000 after purchasing an additional 1,064 shares during the period. Sterling Capital Management LLC boosted its stake in Costamare by 3.7% in the 4th quarter. Sterling Capital Management LLC now owns 32,113 shares of the shipping company’s stock valued at $413,000 after purchasing an additional 1,141 shares during the period. DGS Capital Management LLC grew its holdings in 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 fourth 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 in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Costamare by 3.2% during the fourth quarter. Stifel Financial Corp now owns 59,433 shares of the shipping company’s stock worth $764,000 after buying an additional 1,832 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Company Profile