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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st.

Costamare Stock Down 3.6 %

The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $13.46 and its 200-day simple moving average is $14.23. The stock has a market capitalization of $1.53 billion, a PE ratio of 4.33 and a beta of 1.34.

Costamare (NYSE:CMRE) last released its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same period in the prior year, the company posted $0.46 earnings per share. As a group, sell-side analysts forecast that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Tuesday, January 21st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.53%. Costamare’s dividend payout ratio (DPR) is currently 15.28%.

Institutional Trading of Costamare

A number of large investors have recently added to or reduced their stakes in CMRE. Sanctuary Advisors LLC grew its position in shares of Costamare by 577.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after acquiring an additional 65,040 shares during the period. Barclays PLC lifted its stake in Costamare by 291.1% in the third quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock valued at $928,000 after purchasing an additional 43,925 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Costamare during the third quarter valued at $886,000. Foundry Partners LLC purchased a new stake in Costamare in the third quarter worth $4,032,000. Finally, Federated Hermes Inc. raised its stake 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 buying an additional 399,860 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.

About Costamare