Costamare (NYSE:CMRE) Reaches New 1-Year Low - What's Next?

Costamare Inc. (NYSE:CMRE - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.95 and last traded at $9.96, with a volume of 346145 shares trading hands. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

CMRE has been the subject of several research analyst reports. Jefferies Financial Group reissued a "hold" rating and set a $13.00 target price on shares of Costamare in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Costamare from a "hold" rating to a "buy" rating in a research report on Thursday.

Costamare Price Performance

The business has a 50-day moving average of $11.50 and a two-hundred day moving average of $13.04. 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 firm has a market cap of $1.24 billion, a P/E ratio of 4.24 and a beta of 1.31.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, sell-side analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

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Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare's dividend payout ratio (DPR) is currently 18.85%.

Hedge Funds Weigh In On Costamare

A number of hedge funds have recently modified their holdings of CMRE. Gladius Capital Management LP bought a new position in Costamare during the 3rd quarter worth $35,000. Aquatic Capital Management LLC bought a new position in shares of Costamare during the fourth quarter worth about $45,000. New Age Alpha Advisors LLC acquired a new position in shares of Costamare in the fourth quarter worth approximately $50,000. Quarry LP boosted its holdings in Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company's stock valued at $51,000 after acquiring an additional 2,003 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Costamare by 27.1% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 58.08% of the company's stock.

About Costamare