Costamare (NYSE:CMRE) Reaches New 52-Week Low at $10.23

Costamare Inc. (NYSE:CMREGet Rating)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $10.23 and last traded at $10.27, with a volume of 9168 shares traded. The stock had previously closed at $10.64.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Costamare from $16.00 to $15.00 in a report on Tuesday, July 19th. StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Friday, July 8th. Finally, Jefferies Financial Group assumed coverage on shares of Costamare in a report on Wednesday, July 20th. They issued a “buy” rating and a $19.00 price objective for the company.

Costamare Trading Down 2.9 %

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 2.61 and a beta of 1.41. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.76 and a quick ratio of 1.71. The firm’s fifty day moving average price is $11.34 and its 200-day moving average price is $13.25.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Thursday, July 21st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend was Wednesday, July 20th. Costamare’s dividend payout ratio (DPR) is 11.62%.

Hedge Funds Weigh In On Costamare

Hedge funds and other institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Costamare during the first quarter valued at $30,000. SJS Investment Consulting Inc. bought a new stake in shares of Costamare during the first quarter valued at about $46,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Costamare during the first quarter valued at about $57,000. Ellevest Inc. raised its stake in shares of Costamare by 1,053.0% during the second quarter. Ellevest Inc. now owns 3,609 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 3,296 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Costamare during the first quarter valued at about $108,000. Institutional investors and hedge funds own 48.08% of the company’s stock.

Costamare Company Profile

(Get Rating)

Costamare Inc owns and charters containerships to liner companies worldwide. As of March 18, 2022, it had a fleet of 76 containerships with a total capacity of approximately 557,400 twenty-foot equivalent units and 45 dry bulk vessels with a total capacity of approximately 2,435,500 DWT. The company was founded in 1974 and is based in Monaco.

Further Reading

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