Costamare (NYSE:CMRE) Hits New 52-Week Low – Should You Sell?

Shares of Costamare Inc. (NYSE:CMRE) hit a new 52-week low during mid-day trading 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 topic of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Costamare Stock Up 9.4 %

The firm has a 50 day simple moving average of $10.18 and a two-hundred day simple moving average of $12.35. The stock has a market capitalization of $1.10 billion, a P/E ratio of 3.75 and a beta of 1.11. 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 released its earnings results 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%. On average, equities research analysts expect that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare’s payout ratio is 18.85%.

Institutional Trading of Costamare

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Costamare by 525.8% in the 1st quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company’s stock valued at $912,000 after acquiring an additional 7,540 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Costamare by 239.9% in the fourth 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 during the period. Vident Advisory LLC raised its holdings in Costamare by 203.0% in the 4th quarter. Vident Advisory LLC now owns 58,933 shares of the shipping company’s stock valued at $757,000 after buying an additional 39,481 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Costamare during the 4th quarter worth approximately $513,000. Finally, ProShare Advisors LLC acquired a new stake in Costamare during the 4th quarter worth approximately $155,000. Institutional investors own 58.08% of the company’s stock.

About Costamare