Costamare (NYSE:CMRE) Sets New 12-Month High – What’s Next?

Costamare Inc. (NYSE:CMRE) hit a new 52-week high during trading on Monday . The company traded as high as $15.53 and last traded at $15.46, with a volume of 68749 shares traded. The stock had previously closed at $15.27.

Analyst Ratings Changes

Several research firms recently issued reports on CMRE. Zacks Research cut shares of Costamare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Jefferies Financial Group lifted their price objective on shares of Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Costamare in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Costamare from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Costamare currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Costamare Trading Up 1.4%

The company’s fifty day simple moving average is $12.93 and its 200-day simple moving average is $11.13. The firm has a market capitalization of $1.93 billion, a PE ratio of 6.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.68 and a quick ratio of 1.65.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.11. The firm had revenue of $225.17 million during the quarter, compared to the consensus estimate of $197.92 million. Costamare had a net margin of 22.23% and a return on equity of 15.15%. As a group, sell-side analysts expect that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, October 21st. Costamare’s dividend payout ratio (DPR) is 18.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMRE. Quarry LP grew its holdings in shares of Costamare by 21,575.0% during the first quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock worth $34,000 after buying an additional 3,452 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Costamare by 204.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company’s stock worth $63,000 after buying an additional 4,635 shares in the last quarter. Focus Partners Wealth acquired a new position in Costamare during the third quarter worth about $66,000. New Age Alpha Advisors LLC grew its stake in Costamare by 89.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 3,489 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Costamare during the 3rd quarter valued at about $79,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile