Costamare (NYSE:CMRE) Reaches New 12-Month Low – What’s Next?

Costamare Inc. (NYSE:CMRE) shares reached a new 52-week low on Monday . The company traded as low as $9.95 and last traded at $9.96, with a volume of 346145 shares trading hands. The stock had previously closed at $10.18.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMRE. StockNews.com downgraded 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 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Stock Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a market capitalization of $1.19 billion, a PE ratio of 4.08 and a beta of 1.31. The company’s fifty day simple moving average is $11.67 and its 200 day simple moving average is $13.11.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating 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%. As a group, equities research analysts expect that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s payout ratio is currently 18.85%.

Institutional Trading of Costamare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in Costamare by 239.9% in the 4th quarter. Mackenzie Financial Corp now owns 41,555 shares of the shipping company’s stock worth $534,000 after purchasing an additional 29,331 shares during the period. Vident Advisory LLC boosted its position in shares of Costamare by 203.0% in the fourth quarter. Vident Advisory LLC now owns 58,933 shares of the shipping company’s stock valued at $757,000 after acquiring an additional 39,481 shares during the period. Squarepoint Ops LLC purchased a new position in Costamare during the fourth quarter valued at approximately $513,000. ProShare Advisors LLC bought a new stake in Costamare during the 4th quarter worth approximately $155,000. Finally, Man Group plc purchased a new stake in Costamare in the 4th quarter worth approximately $133,000. 58.08% of the stock is currently owned by institutional investors.

About Costamare