Costamare (NYSE:CMRE) Sets New 52-Week Low – Time to Sell?

Costamare Inc. (NYSE:CMRE)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $9.66 and last traded at $9.84, with a volume of 141078 shares changing hands. The stock had previously closed at $9.96.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMRE shares. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Trading Down 1.1 %

The stock has a 50 day moving average of $10.71 and a 200-day moving average of $12.66. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.18 billion, a P/E ratio of 4.04 and a beta of 1.28.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, research analysts predict that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.67%. The ex-dividend date was Tuesday, January 21st. Costamare’s dividend payout ratio is currently 18.85%.

Institutional Investors Weigh In On Costamare

Several institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in 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 during the period. American Century Companies Inc. raised its holdings in shares of Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock valued at $13,845,000 after purchasing an additional 170,412 shares in the last quarter. Essential Planning LLC. bought a new stake in Costamare during the 4th quarter valued at $1,718,000. JPMorgan Chase & Co. lifted its position in shares of Costamare by 33.3% during the fourth quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company’s stock valued at $5,815,000 after buying an additional 112,938 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Costamare in the fourth quarter worth $1,399,000. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile