Costamare (NYSE:CMRE) Shares Down 3.4% - Here's Why

Costamare Inc. (NYSE:CMRE - Get Free Report)'s stock price fell 3.4% during trading on Friday . The company traded as low as $13.01 and last traded at $13.04. 41,482 shares traded hands during trading, a decline of 80% from the average session volume of 204,458 shares. The stock had previously closed at $13.50.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMRE shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price target on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded shares of Costamare from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd.

Costamare Trading Down 3.6 %

The firm has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $14.22. The firm has a market cap of $1.53 billion, a P/E ratio of 4.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million for the quarter, compared to analysts' expectations of $434.13 million. During the same quarter last year, the company posted $0.46 EPS. On average, equities research analysts predict that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st will be paid a $0.115 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.53%. Costamare's dividend payout ratio (DPR) is currently 15.28%.

Institutional Trading of Costamare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in Costamare by 1,322.0% during the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company's stock valued at $24,119,000 after buying an additional 1,366,344 shares during the period. State Street Corp lifted its position in Costamare by 2.6% during the 3rd quarter. State Street Corp now owns 1,213,838 shares of the shipping company's stock valued at $19,082,000 after acquiring an additional 30,986 shares during the period. American Century Companies Inc. lifted its position in Costamare by 62.9% during the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company's stock valued at $10,216,000 after acquiring an additional 239,970 shares during the period. Empowered Funds LLC boosted its stake in Costamare by 5.3% during the third quarter. Empowered Funds LLC now owns 572,708 shares of the shipping company's stock worth $9,003,000 after acquiring an additional 29,078 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Costamare by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company's stock worth $6,822,000 after purchasing an additional 15,983 shares during the period. Hedge funds and other institutional investors own 58.08% of the company's stock.

About Costamare