Costamare (NYSE:CMRE) Sets New 1-Year High – Here’s What Happened

Costamare Inc. (NYSE:CMRE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $15.05 and last traded at $15.12, with a volume of 290290 shares. The stock had previously closed at $14.57.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research lowered Costamare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Costamare in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their target price on shares of Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Costamare currently has a consensus rating of “Hold” and an average target price of $12.00.

Costamare Trading Down 0.0%

The firm has a market cap of $1.83 billion, a PE ratio of 6.46 and a beta of 1.38. The company has a 50-day simple moving average of $12.63 and a 200 day simple moving average of $10.90. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65.

Costamare (NYSE:CMRE) last posted its earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.11. The firm had revenue of $219.13 million during the quarter, compared to analysts’ expectations of $197.92 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. As a group, sell-side analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, October 21st. Costamare’s dividend payout ratio is presently 18.40%.

Hedge Funds Weigh In On Costamare

A number of large investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new stake in Costamare in the first quarter valued at approximately $274,000. HB Wealth Management LLC acquired a new position in shares of Costamare during the 1st quarter worth approximately $199,000. XTX Topco Ltd lifted its position in shares of Costamare by 96.5% during the 1st quarter. XTX Topco Ltd now owns 58,421 shares of the shipping company’s stock valued at $575,000 after buying an additional 28,696 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in Costamare by 89.4% in the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 3,489 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Costamare in the 1st quarter valued at $150,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare