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

Costamare Inc. (NYSE:CMRE)’s share price reached a new 52-week high on Thursday . The stock traded as high as $12.40 and last traded at $12.26, with a volume of 31039 shares changing hands. The stock had previously closed at $12.28.

Analysts Set New Price Targets

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

Costamare Stock Up 1.0 %

The firm’s 50 day simple moving average is $11.35 and its two-hundred day simple moving average is $10.55. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 4.23 and a beta of 1.32. The company has a current ratio of 1.69, a quick ratio of 1.59 and a debt-to-equity ratio of 0.83.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The business 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 previous year, the company posted $0.61 earnings per share. On average, equities analysts forecast that Costamare Inc. will post 2.73 EPS for the current year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 19th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, April 18th. Costamare’s payout ratio is currently 15.59%.

Institutional Investors Weigh In On Costamare

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in Costamare by 24.4% in the 1st quarter. BNP Paribas Financial Markets now owns 101,791 shares of the shipping company’s stock valued at $1,155,000 after buying an additional 19,998 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 Costamare in the first quarter valued at approximately $455,000. Ballentine Partners LLC raised its position in Costamare by 23.5% during the first quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock valued at $154,000 after purchasing an additional 2,585 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Costamare by 34.6% during the fourth quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock worth $326,000 after purchasing an additional 8,042 shares during the last quarter. Institutional investors own 58.08% of the company’s stock.

About Costamare