Costamare (NYSE:CMRE) Hits New 52-Week Low – Time to Sell?

Costamare Inc. (NYSE:CMRE)’s share price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $12.93 and last traded at $12.9390, with a volume of 99,799 shares changing hands. The stock had previously closed at $13.16.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Zacks Research raised shares of Costamare to a “hold” rating in a research report on Tuesday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Costamare in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Costamare Trading Down 3.0%

The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 4.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.47 and a current ratio of 2.52. The business has a 50-day moving average of $14.78 and a 200-day moving average of $15.80.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, October 28th. The shipping company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. Costamare had a net margin of 39.40% and a return on equity of 14.29%. The firm had revenue of $208.78 million during the quarter, compared to the consensus estimate of $208.06 million. As a group, research analysts forecast that Costamare Inc. will post 2.53 EPS for the current year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.1250 per share. The ex-dividend date is Tuesday, October 20th. This represents a $0.50 annualized dividend and a yield of 3.9%. Costamare’s payout ratio is presently 19.31%.

Hedge Funds Weigh In On Costamare

A number of large investors have recently made changes to their positions in the stock. Globeflex Capital L P acquired a new stake in shares of Costamare during the 2nd quarter valued at approximately $6,651,000. Nipun Capital L.P. purchased a new position in Costamare in the 2nd quarter valued at approximately $2,114,000. Allianz Asset Management GmbH purchased a new position in Costamare in the 2nd quarter valued at approximately $1,993,000. Independent Financial Group LLC purchased a new position in Costamare in the 1st quarter valued at approximately $1,615,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Costamare during the third quarter worth $938,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Company Profile

Costamare Inc (NYSE: CMRE) is a global shipping company that owns and operates vessels used to transport containerized cargo and dry bulk commodities. Its containerships carry manufactured goods, consumer products and other cargo moved in standardized shipping containers, while its dry bulk vessels transport commodities such as grain, minerals and other bulk materials.

The company primarily generates revenue by chartering its vessels to international liner companies and other shipping customers under a range of charter arrangements.