Costamare (NYSE:CMRE) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Costamare Inc. (NYSE:CMRE) stock has risen above its 200-day moving average, trading at $11.02 with a recent high of $11.18.
• Analysts have upgraded Costamare’s stock rating, with Zacks Research moving it from "strong sell" to "strong buy," and the consensus price target is set at $13.00.
• The company declared a quarterly dividend of $0.115 per share, scheduled for payment on November 6th, representing an annualized yield of 4.2%.

Costamare Inc. (NYSE:CMRE - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.01 and traded as high as $11.18. Costamare shares last traded at $11.02, with a volume of 498,657 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on CMRE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Costamare in a report on Wednesday, October 8th. Zacks Research raised Costamare from a "strong sell" rating to a "strong-buy" rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Costamare Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 4.67 and a beta of 1.38. The business has a fifty day moving average price of $11.73 and a 200 day moving average price of $10.01.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.29. Costamare had a return on equity of 13.67% and a net margin of 17.10%.The company had revenue of $211.20 million during the quarter, compared to analysts' expectations of $209.72 million. During the same quarter in the previous year, the firm earned $0.76 EPS. As a group, research analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Tuesday, October 21st will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.2%. Costamare's payout ratio is currently 19.49%.

Institutional Investors Weigh In On Costamare

A number of hedge funds and other institutional investors have recently bought and sold shares of CMRE. Quarry LP grew its position in 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 last quarter. Tower Research Capital LLC TRC grew its position in Costamare by 204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock worth $63,000 after acquiring an additional 4,635 shares during the last quarter. New Age Alpha Advisors LLC grew its position in Costamare by 89.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company's stock worth $73,000 after acquiring an additional 3,489 shares during the last quarter. TD Waterhouse Canada Inc. bought a new stake in Costamare during the 2nd quarter worth $84,000. Finally, PharVision Advisers LLC bought a new stake in Costamare during the 2nd quarter worth $100,000. Institutional investors own 58.08% of the company's stock.

Costamare Company Profile

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