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

Costamare Inc. (NYSE:CMRE) shares reached a new 52-week low during trading on Monday . The stock traded as low as $10.32 and last traded at $10.32, with a volume of 13105 shares trading hands. The stock had previously closed at $10.47.

Analysts Set New Price Targets

Several research firms have commented on CMRE. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Friday, January 31st.

Costamare Stock Down 0.5 %

The firm’s 50 day moving average price is $11.95 and its two-hundred day moving average price is $13.28. 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 $1.25 billion, a PE ratio of 4.27 and a beta of 1.31.

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, beating 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%. As a group, research analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.41%. Costamare’s dividend payout ratio (DPR) is 18.85%.

Institutional Investors Weigh In On Costamare

Several large investors have recently added to or reduced their stakes in CMRE. Mackenzie Financial Corp grew its position in Costamare by 239.9% in the 4th quarter. Mackenzie Financial Corp now owns 41,555 shares of the shipping company’s stock valued at $534,000 after buying an additional 29,331 shares in the last quarter. Vident Advisory LLC grew its holdings in Costamare by 203.0% during the fourth quarter. Vident Advisory LLC now owns 58,933 shares of the shipping company’s stock worth $757,000 after acquiring an additional 39,481 shares during the period. Squarepoint Ops LLC bought a new stake in Costamare in the fourth quarter worth about $513,000. ProShare Advisors LLC acquired a new stake in Costamare in the 4th quarter valued at about $155,000. Finally, Man Group plc bought a new position in shares of Costamare during the 4th quarter valued at about $133,000. 58.08% of the stock is owned by institutional investors and hedge funds.

About Costamare