Costamare (NYSE:CMRE) Shares Down 5.1% - Should You Sell?

Costamare Inc. (NYSE:CMRE - Get Free Report)'s stock price dropped 5.1% during mid-day trading on Thursday . The company traded as low as $10.94 and last traded at $10.88. Approximately 147,544 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 346,082 shares. The stock had previously closed at $11.46.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMRE. StockNews.com downgraded Costamare from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Jefferies Financial Group reissued a "hold" rating and issued a $13.00 price objective on shares of Costamare in a research note on Wednesday, February 5th.

Costamare Trading Up 0.2 %

The company has a 50-day moving average price of $12.48 and a two-hundred day moving average price of $13.52. The stock has a market cap of $1.24 billion, a P/E ratio of 4.33 and a beta of 1.31. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE - Get Free Report) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, research analysts expect that Costamare Inc. will post 2.73 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare's payout ratio is 18.85%.

Institutional Investors Weigh In On Costamare

Several large investors have recently modified their holdings of the business. nVerses Capital LLC increased its holdings in shares of Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company's stock valued at $28,000 after acquiring an additional 1,700 shares during the period. Gladius Capital Management LP purchased a new position in Costamare in the third quarter worth $35,000. Quarry LP lifted its holdings in shares of Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company's stock valued at $51,000 after purchasing an additional 2,003 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company's stock worth $121,000 after purchasing an additional 7,113 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Costamare during the 4th quarter worth $130,000. Institutional investors own 58.08% of the company's stock.

About Costamare