Costamare (NYSE:CMRE) Stock Price Down 5.1% – Time to Sell?

Costamare Inc. (NYSE:CMRE)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $10.94 and last traded at $10.88. Approximately 147,544 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 346,082 shares. The stock had previously closed at $11.46.

Analyst Ratings Changes

CMRE has been the subject of several research reports. Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research report on Wednesday. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, January 31st.

Costamare Stock Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The firm has a market capitalization of $1.24 billion, a PE ratio of 4.32 and a beta of 1.31. The firm has a fifty day moving average price of $12.48 and a 200 day moving average price of $13.54.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Research analysts anticipate that Costamare Inc. will post 2.73 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed 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 4.36%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s payout ratio is 18.85%.

Institutional Trading of Costamare

A number of hedge funds have recently modified their holdings of the business. State Street Corp grew its position in Costamare by 2.6% during the third quarter. State Street Corp now owns 1,213,838 shares of the shipping company’s stock valued at $19,082,000 after purchasing an additional 30,986 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Costamare by 5.1% during the 4th quarter. Empowered Funds LLC now owns 602,062 shares of the shipping company’s stock valued at $7,736,000 after buying an additional 29,354 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Costamare by 87.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock valued at $7,071,000 after acquiring an additional 257,422 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of Costamare by 1.7% during the 4th quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company’s stock valued at $6,530,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Costamare by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company’s stock worth $6,822,000 after acquiring an additional 15,983 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile