Costamare (NYSE:CMRE) Shares Down 3.4% – Should You Sell?

Costamare Inc. (NYSE:CMRE)’s share price dropped 3.4% on Friday . The stock traded as low as $13.01 and last traded at $13.04. Approximately 41,482 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 204,458 shares. The stock had previously closed at $13.50.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $13.00 target price on shares of Costamare in a research note on Friday, November 1st. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Trading Down 3.6 %

The firm has a market cap of $1.53 billion, a P/E ratio of 4.33 and a beta of 1.33. The company has a 50 day moving average of $13.44 and a 200 day moving average of $14.21. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE) last posted its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same period in the previous year, the firm posted $0.46 earnings per share. Analysts predict that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $0.46 annualized dividend and a yield of 3.53%. Costamare’s dividend payout ratio (DPR) is currently 15.28%.

Institutional Trading of Costamare

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after purchasing an additional 1,366,344 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 399,860 shares during the period. Marshall Wace LLP lifted its stake in shares of Costamare by 985.5% in the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock worth $5,875,000 after buying an additional 324,618 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Costamare during the 3rd quarter worth $4,032,000. Finally, American Century Companies Inc. boosted its holdings in shares of Costamare by 62.9% during the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock worth $10,216,000 after buying an additional 239,970 shares during the period. Institutional investors own 58.08% of the company’s stock.

About Costamare