Costamare (NYSE:CMRE) Reaches New 52-Week High at $12.40

Costamare Inc. (NYSE:CMRE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.40 and last traded at $12.26, with a volume of 31039 shares traded. The stock had previously closed at $12.28.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMRE. Stifel Nicolaus upped their price target on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th.

Costamare Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 4.16 and a beta of 1.32. The business’s 50-day simple moving average is $11.32 and its 200-day simple moving average is $10.54.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $494.85 million during the quarter, compared to analysts’ expectations of $419.00 million. Costamare had a return on equity of 11.37% and a net margin of 25.26%. During the same period in the prior year, the business posted $0.61 EPS. On average, research analysts expect that Costamare Inc. will post 2.73 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 19th will be paid a $0.115 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.73%. Costamare’s dividend payout ratio (DPR) is presently 15.59%.

Institutional Trading of Costamare

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in shares of Costamare by 24.4% during the 1st quarter. BNP Paribas Financial Markets now owns 101,791 shares of the shipping company’s stock worth $1,155,000 after acquiring an additional 19,998 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Costamare by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after acquiring an additional 1,390 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Costamare during the 1st quarter worth approximately $455,000. Ballentine Partners LLC grew its stake in shares of Costamare by 23.5% during the 1st quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Costamare by 34.6% during the 4th quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock worth $326,000 after acquiring an additional 8,042 shares in the last quarter. 58.08% of the stock is owned by institutional investors.

Costamare Company Profile