Costamare (NYSE:CMRE) Sets New 1-Year Low – What’s Next?

Shares of Costamare Inc. (NYSE:CMRE) reached a new 52-week low during trading on Thursday. The company traded as low as $12.93 and last traded at $12.9390, with a volume of 99,799 shares. The stock had previously closed at $13.16.

Analyst Ratings Changes

A number of brokerages have issued reports on CMRE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costamare in a report on Tuesday, August 18th. Zacks Research upgraded shares of Costamare to a “hold” rating in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Costamare Price Performance

The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 4.91 and a beta of 1.18. The company has a fifty day simple moving average of $14.68 and a two-hundred day simple moving average of $15.77.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, October 28th. The shipping company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $208.78 million during the quarter, compared to analysts’ expectations of $208.06 million. Costamare had a return on equity of 14.29% and a net margin of 39.40%. On average, equities research analysts anticipate that Costamare Inc. will post 2.53 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Tuesday, October 20th were issued a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, October 20th. Costamare’s payout ratio is 19.31%.

Institutional Trading of Costamare

A number of large investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH acquired a new position in Costamare in the 2nd quarter valued at about $1,993,000. Independent Financial Group LLC acquired a new stake in shares of Costamare during the 1st quarter worth about $1,615,000. Nipun Capital L.P. acquired a new stake in shares of Costamare during the 2nd quarter worth about $2,114,000. Globeflex Capital L P acquired a new stake in shares of Costamare during the 2nd quarter worth about $6,651,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Costamare during the third quarter worth about $938,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile

Costamare Inc (NYSE: CMRE) is a global shipping company that owns and operates vessels used to transport containerized cargo and dry bulk commodities. Its containerships carry manufactured goods, consumer products and other cargo moved in standardized shipping containers, while its dry bulk vessels transport commodities such as grain, minerals and other bulk materials.

The company primarily generates revenue by chartering its vessels to international liner companies and other shipping customers under a range of charter arrangements.