Costamare (NYSE:CMRE) Reaches New 52-Week Low – Time to Sell?

Costamare Inc. (NYSE:CMRE) reached 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 trading hands. The stock had previously closed at $8.95.

Wall Street Analysts Forecast Growth

CMRE has been the subject of a number of research reports. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Stock Down 2.3 %

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 company’s fifty day moving average price is $10.42 and its 200-day moving average price is $12.48. The stock has a market capitalization of $1.05 billion, a PE ratio of 3.58 and a beta of 1.11.

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

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Thursday, April 17th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare’s payout ratio is 18.85%.

Institutional Trading of Costamare

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted its stake in shares of 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 buying an additional 2,003 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Costamare in the 4th quarter worth approximately $45,000. New Age Alpha Advisors LLC bought a new position in Costamare in the 4th quarter valued at approximately $50,000. Legal & General Group Plc boosted its stake in Costamare by 27.1% during the 4th 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 during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Costamare by 525.8% during the 1st quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company’s stock valued at $912,000 after purchasing an additional 7,540 shares during the last quarter. 58.08% of the stock is owned by hedge funds and other institutional investors.

About Costamare