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

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

Wall Street Analyst Weigh In

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

Costamare Price Performance

The stock’s 50-day moving average price is $12.58 and its 200 day moving average price is $13.59. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 3.56 and a beta of 1.31. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last posted its earnings results 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 net margin of 19.11% and a return on equity of 14.28%. Equities research analysts predict that Costamare Inc. will post 2.74 earnings per share for the current year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Tuesday, January 21st will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.29%. Costamare’s payout ratio is currently 15.28%.

Institutional Trading of Costamare

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its holdings in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. Gladius Capital Management LP acquired a new stake in Costamare in the third quarter worth $35,000. Quarry LP raised its holdings in Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after purchasing an additional 2,003 shares during the period. Blue Trust Inc. raised its holdings in Costamare by 2,540.4% in the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in Costamare in the second quarter worth $185,000. 58.08% of the stock is owned by institutional investors.

Costamare Company Profile