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

Costamare Inc. (NYSE:CMRE)’s stock price hit a new 52-week high during 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 Analysts Forecast Growth

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

Costamare Trading Up 0.5 %

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

Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, February 7th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping 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 net margin of 25.26% and a return on equity of 11.37%. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, analysts predict that Costamare Inc. will post 2.73 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders 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 3.73%. The ex-dividend date is Thursday, April 18th. Costamare’s dividend payout ratio is presently 15.59%.

Hedge Funds Weigh In On Costamare

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Costamare by 197.8% in the fourth quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after buying an additional 2,696 shares during the last quarter. Quarry LP increased its position in Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after purchasing an additional 1,376 shares during the last quarter. Ballentine Partners LLC acquired a new position in Costamare during the fourth quarter worth approximately $114,000. Raymond James & Associates acquired a new position in Costamare during the fourth quarter worth approximately $135,000. Finally, Victory Capital Management Inc. increased its position in Costamare by 12.7% during the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare