Costamare (NYSE:CMRE) Reaches New 1-Year Low – Here’s Why

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

Wall Street Analyst Weigh In

Several equities analysts have commented on CMRE shares. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, January 31st.

Costamare Stock Down 0.5 %

The business’s fifty day moving average price is $11.95 and its 200 day moving average price is $13.28. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 4.27 and a beta of 1.31. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, equities analysts expect that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

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

Institutional Trading of Costamare

Several large investors have recently bought and sold shares of CMRE. Robeco Institutional Asset Management B.V. raised its stake in shares of Costamare by 87.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock worth $7,071,000 after buying an additional 257,422 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Costamare in the third quarter worth $4,032,000. American Century Companies Inc. lifted its position in shares of Costamare by 18.8% in the fourth quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock valued at $13,845,000 after acquiring an additional 170,412 shares in the last quarter. Essential Planning LLC. acquired a new stake in shares of Costamare during the fourth quarter valued at $1,718,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Costamare by 33.3% during the fourth quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company’s stock valued at $5,815,000 after acquiring an additional 112,938 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare