Costamare (NYSE:CMRE) Reaches New 1-Year Low – Should You Sell?

Costamare Inc. (NYSE:CMRE) shares hit a new 52-week low during trading 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 restated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Trading Down 1.1 %

The company has a market cap of $1.22 billion, a P/E ratio of 4.26 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. The business has a 50 day moving average price of $12.32 and a 200-day moving average price of $13.45.

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, topping 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%. Analysts forecast that Costamare Inc. will post 2.73 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.43%. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Hedge Funds Weigh In On Costamare

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC lifted its position in shares of Costamare by 1,700.0% in the third 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 last quarter. Gladius Capital Management LP bought a new stake in Costamare in the 3rd quarter valued at $35,000. New Age Alpha Advisors LLC acquired a new stake in Costamare during the 4th quarter valued at $50,000. Quarry LP boosted its position in Costamare by 157.5% during the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after purchasing an additional 2,003 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Costamare by 2,540.4% in the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile