Costamare (NYSE:CMRE) Sets New 52-Week High at $12.40

Costamare Inc. (NYSE:CMRE)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $12.40 and last traded at $12.26, with a volume of 31039 shares changing hands. The stock had previously closed at $12.28.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Stifel Nicolaus boosted their price objective on Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research report on Friday, April 19th.

Costamare Price Performance

The firm has a market cap of $1.47 billion, a P/E ratio of 4.23 and a beta of 1.32. The stock’s 50-day moving average is $11.35 and its 200-day moving average is $10.55. The company has a quick ratio of 1.59, a current ratio of 1.69 and a debt-to-equity ratio of 0.83.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. Costamare had a net margin of 25.26% and a return on equity of 11.37%. The company had revenue of $494.85 million for the quarter, compared to analyst estimates of $419.00 million. During the same period last year, the business posted $0.61 EPS. As a group, equities analysts anticipate that Costamare Inc. will post 2.73 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Friday, April 19th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.46 annualized dividend and a yield of 3.69%. Costamare’s dividend payout ratio (DPR) is 15.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Costamare by 24.4% in the 1st quarter. BNP Paribas Financial Markets now owns 101,791 shares of the shipping company’s stock valued at $1,155,000 after buying an additional 19,998 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after purchasing an additional 1,390 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Costamare in the first quarter worth about $455,000. Ballentine Partners LLC lifted its stake in Costamare by 23.5% during the first quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after purchasing an additional 2,585 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in Costamare by 34.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock valued at $326,000 after purchasing an additional 8,042 shares in the last quarter. 58.08% of the stock is owned by institutional investors.

Costamare Company Profile