Shares of Costamare Inc. (NYSE:CMRE - Get Free Report) were down 3.2% during mid-day trading on Tuesday . The company traded as low as $8.36 and last traded at $8.30. Approximately 83,404 shares changed hands during trading, a decline of 83% from the average daily volume of 476,703 shares. The stock had previously closed at $8.57.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on CMRE shares. StockNews.com downgraded shares of Costamare from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. Jefferies Financial Group restated a "hold" rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th.
Read Our Latest Stock Report on CMRE
Costamare Stock Performance
The firm's fifty day moving average is $9.72 and its 200 day moving average is $11.81. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 3.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56.
Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share (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%. On average, analysts predict that Costamare Inc. will post 2.52 EPS for the current fiscal year.
Costamare Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare's dividend payout ratio (DPR) is presently 18.85%.
Institutional Investors Weigh In On Costamare
Institutional investors and hedge funds have recently modified their holdings of the business. Aquatic Capital Management LLC bought a new position in Costamare during the fourth quarter valued at about $45,000. New Age Alpha Advisors LLC acquired a new position in shares of Costamare during the 4th quarter valued at about $50,000. Legal & General Group Plc raised its stake in shares of Costamare by 27.1% in the 4th quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company's stock valued at $114,000 after acquiring an additional 1,900 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Costamare by 525.8% in the 1st quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company's stock worth $912,000 after purchasing an additional 7,540 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Costamare during the fourth quarter worth approximately $130,000. Institutional investors and hedge funds own 58.08% of the company's stock.
About Costamare
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