Costamare (NYSE:CMRE) Hits New 1-Year Low – Time to Sell?

Shares of Costamare Inc. (NYSE:CMRE) hit a new 52-week low on Thursday . The stock traded as low as $10.33 and last traded at $10.39, with a volume of 474072 shares traded. The stock had previously closed at $10.51.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMRE. Jefferies Financial Group reissued 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 note on Friday, January 31st.

Costamare Price Performance

The stock has a 50 day moving average price of $12.21 and a 200-day moving average price of $13.40. 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 stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 4.37 and a beta of 1.31.

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, 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, analysts forecast that Costamare Inc. will post 2.73 earnings per share for the current year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is 18.85%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMRE. nVerses Capital LLC raised its position in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. Gladius Capital Management LP purchased a new stake in Costamare in the third quarter valued at $35,000. Quarry LP lifted its stake in shares of Costamare by 157.5% in the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 2,003 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Costamare during the 4th quarter worth $45,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Costamare during the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile