Costamare (NYSE:CMRE) Reaches New 12-Month High – What’s Next?

Costamare Inc. (NYSE:CMRE)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $14.95 and last traded at $14.64, with a volume of 98484 shares changing hands. The stock had previously closed at $14.61.

Analysts Set New Price Targets

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

Costamare Price Performance

The stock’s fifty day moving average price is $12.38 and its 200-day moving average price is $10.67. The firm has a market cap of $1.79 billion, a PE ratio of 6.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.64.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11. The firm had revenue of $195.84 million for the quarter, compared to analyst estimates of $197.92 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. As a group, equities analysts expect that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Tuesday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, October 21st. Costamare’s dividend payout ratio (DPR) is currently 18.40%.

Institutional Trading of Costamare

Large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in shares of Costamare by 21,575.0% during the 1st quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock worth $34,000 after acquiring an additional 3,452 shares during the period. Tower Research Capital LLC TRC increased its position in Costamare by 204.9% during the second quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company’s stock worth $63,000 after purchasing an additional 4,635 shares during the last quarter. Focus Partners Wealth purchased a new position in Costamare during the third quarter worth about $66,000. New Age Alpha Advisors LLC grew its stake in shares of 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 buying an additional 3,489 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Costamare during the 3rd quarter worth approximately $79,000. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile