COSTAMARE Inc/SH (CMRE) Sets New 12-Month Low at $5.06

Shares of COSTAMARE Inc/SH (NYSE:CMRE) reached a new 52-week low during trading on Tuesday . The company traded as low as $5.06 and last traded at $5.13, with a volume of 34874 shares traded. The stock had previously closed at $5.11.

CMRE has been the subject of a number of recent research reports. Wells Fargo & Co cut COSTAMARE Inc/SH from an “outperform” rating to a “market perform” rating and set a $7.00 price objective for the company. in a research report on Friday, September 28th. Zacks Investment Research cut COSTAMARE Inc/SH from a “hold” rating to a “sell” rating in a research report on Monday, October 1st. ValuEngine cut COSTAMARE Inc/SH from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Morgan Stanley lifted their price objective on COSTAMARE Inc/SH from $7.70 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th.

The stock has a market capitalization of $575.46 million, a P/E ratio of 6.73 and a beta of 1.99. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 0.70.

COSTAMARE Inc/SH (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, October 24th. The shipping company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $89.45 million during the quarter, compared to analysts’ expectations of $93.98 million. COSTAMARE Inc/SH had a return on equity of 4.85% and a net margin of 13.39%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. As a group, analysts expect that COSTAMARE Inc/SH will post 0.44 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Tuesday, October 23rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 7.72%. The ex-dividend date is Monday, October 22nd. COSTAMARE Inc/SH’s dividend payout ratio (DPR) is 51.95%.

A number of institutional investors and hedge funds have recently bought and sold shares of CMRE. Northpointe Capital LLC acquired a new position in shares of COSTAMARE Inc/SH in the 2nd quarter valued at about $9,548,000. Renaissance Technologies LLC lifted its stake in shares of COSTAMARE Inc/SH by 75.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,437,400 shares of the shipping company’s stock valued at $11,470,000 after purchasing an additional 619,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of COSTAMARE Inc/SH by 24.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,114,275 shares of the shipping company’s stock valued at $19,433,000 after purchasing an additional 606,681 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of COSTAMARE Inc/SH by 134.0% in the 1st quarter. Wells Fargo & Company MN now owns 675,226 shares of the shipping company’s stock valued at $4,213,000 after purchasing an additional 386,645 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of COSTAMARE Inc/SH by 46,343.3% in the 2nd quarter. Federated Investors Inc. PA now owns 328,354 shares of the shipping company’s stock valued at $2,620,000 after purchasing an additional 327,647 shares in the last quarter. Institutional investors own 25.84% of the company’s stock.

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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