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

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

Wall Street Analysts Forecast Growth

CMRE has been the topic of a number of research reports. Jefferies Financial Group restated a “hold” rating and set a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Friday, January 31st.

Costamare Stock Down 1.9 %

The business has a 50-day simple moving average of $11.85 and a two-hundred day simple moving average of $13.22. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 4.13 and a beta of 1.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

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

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 4.56%. The ex-dividend date was Tuesday, January 21st. Costamare’s payout ratio is 18.85%.

Hedge Funds Weigh In On Costamare

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after acquiring an additional 7,113 shares during the period. Ballentine Partners LLC boosted its position in shares of Costamare by 7.6% during the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock worth $224,000 after purchasing an additional 1,012 shares in the last quarter. US Bancorp DE grew its stake in shares of Costamare by 1,385.2% during the 3rd quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock worth $186,000 after purchasing an additional 11,040 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Costamare by 37.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 292,879 shares of the shipping company’s stock valued at $4,604,000 after purchasing an additional 79,381 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Costamare by 34.2% in the third quarter. Principal Financial Group Inc. now owns 59,177 shares of the shipping company’s stock valued at $930,000 after purchasing an additional 15,092 shares during the period. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Company Profile