Costamare (NYSE:CMRE) Sets New 12-Month Low – Here’s What Happened

Costamare Inc. (NYSE:CMRE) shares hit a new 52-week low on Monday . The stock 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.

Wall Street Analyst Weigh In

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

Costamare Stock Down 1.1 %

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 firm has a market capitalization of $1.18 billion, a PE ratio of 4.04 and a beta of 1.28. The business has a 50-day moving average price of $10.71 and a 200-day moving average price of $12.66.

Costamare (NYSE:CMRE) last released its quarterly earnings data 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%. Equities research analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is 18.85%.

Institutional Trading of Costamare

Several hedge funds have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new stake in Costamare in the 4th quarter valued at about $45,000. New Age Alpha Advisors LLC acquired a new stake in shares of Costamare during the 4th quarter worth about $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 purchasing an additional 2,003 shares during the last quarter. Legal & General Group Plc grew its position in shares of Costamare by 27.1% in the 4th quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company’s stock valued at $114,000 after buying an additional 1,900 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Costamare in the fourth quarter valued at $130,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare