Costamare (NYSE:CMRE) Trading 4.3% Higher – Still a Buy?

Costamare Inc. (NYSE:CMRE)’s stock price rose 4.3% during mid-day trading on Wednesday . The stock traded as high as $9.10 and last traded at $9.13. Approximately 116,175 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 495,325 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on Costamare in a report on Thursday, May 15th. They issued a “hold” rating for the company.

Costamare Price Performance

The firm’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $10.57. The firm has a market capitalization of $1.10 billion, a PE ratio of 3.74 and a beta of 1.21. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Thursday, May 8th. The shipping company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $440.54 million during the quarter, compared to analyst estimates of $330.14 million. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, research analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.46 annualized dividend and a dividend yield of 5.04%. Costamare’s payout ratio is 18.85%.

Hedge Funds Weigh In On Costamare

A number of hedge funds have recently made changes to their positions in the business. Quarry LP lifted its holdings in Costamare by 21,575.0% in the 1st quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock worth $34,000 after purchasing an additional 3,452 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Costamare in the 4th quarter worth $45,000. New Age Alpha Advisors LLC purchased a new position in Costamare during the fourth quarter worth $50,000. Legal & General Group Plc increased its position in Costamare by 27.1% during the fourth quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company’s stock valued at $114,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Costamare in the fourth quarter valued at $130,000. Institutional investors own 58.08% of the company’s stock.

About Costamare