Shares of COSTAMARE INC/SH (NYSE:CMRE) reached a new 52-week low on Thursday . The stock traded as low as $4.86 and last traded at $4.89, with a volume of 18441 shares trading hands. The stock had previously closed at $5.16.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of COSTAMARE INC/SH from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. ValuEngine cut shares of COSTAMARE INC/SH from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Morgan Stanley set a $8.00 price target on shares of COSTAMARE INC/SH and gave the company a “buy” rating in a research note on Saturday, October 27th. Finally, Wells Fargo & Co cut shares of COSTAMARE INC/SH from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a research note on Friday, September 28th.
The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.79. The company has a market cap of $585.95 million, a price-to-earnings ratio of 6.44, a P/E/G ratio of 2.33 and a beta of 2.03.
COSTAMARE INC/SH (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, October 24th. The shipping company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. COSTAMARE INC/SH had a net margin of 13.39% and a return on equity of 4.85%. The business had revenue of $89.45 million during the quarter, compared to analysts’ expectations of $93.98 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts anticipate that COSTAMARE INC/SH will post 0.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Tuesday, October 23rd were given a dividend of $0.10 per share. The ex-dividend date was Monday, October 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.06%. COSTAMARE INC/SH’s payout ratio is currently 51.95%.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of COSTAMARE INC/SH by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 157,477 shares of the shipping company’s stock worth $1,022,000 after purchasing an additional 10,123 shares during the period. Renaissance Technologies LLC boosted its position in shares of COSTAMARE INC/SH by 17.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,686,500 shares of the shipping company’s stock worth $10,945,000 after purchasing an additional 249,100 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of COSTAMARE INC/SH during the 3rd quarter worth approximately $10,265,000. Bridgeway Capital Management Inc. boosted its position in shares of COSTAMARE INC/SH by 43.1% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 647,500 shares of the shipping company’s stock worth $4,202,000 after purchasing an additional 195,000 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of COSTAMARE INC/SH by 8.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,180,135 shares of the shipping company’s stock worth $7,659,000 after purchasing an additional 86,957 shares during the period. 24.13% of the stock is owned by hedge funds and other institutional investors.
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About COSTAMARE INC/SH (NYSE:CMRE)
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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