Costamare (NYSE:CMRE) Shares Down 5.1%

Shares of Costamare Inc. (NYSE:CMRE) fell 5.1% during mid-day trading on Friday . The company traded as low as $16.11 and last traded at $16.11. 241,777 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 545,342 shares. The stock had previously closed at $16.97.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMRE. StockNews.com downgraded shares of Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group increased their target price on shares of Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Stifel Nicolaus increased their target price on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research report on Friday, April 19th.

Costamare Stock Down 4.4 %

The stock has a market cap of $1.91 billion, a P/E ratio of 6.58 and a beta of 1.38. The company has a current ratio of 1.91, a quick ratio of 1.81 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average is $14.90 and its 200 day moving average is $12.37.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, May 10th. The shipping company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. As a group, equities research analysts forecast that Costamare Inc. will post 3.08 EPS for the current year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th will be given a $0.115 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.46 annualized dividend and a yield of 2.84%. Costamare’s dividend payout ratio is 17.83%.

Institutional Trading of Costamare

Several institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in Costamare by 197.8% during the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 2,696 shares during the last quarter. Quarry LP raised its stake in shares of Costamare by 48.5% in the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after acquiring an additional 1,376 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Costamare in the fourth quarter worth about $114,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Costamare in the first quarter worth about $132,000. Finally, Raymond James & Associates bought a new position in shares of Costamare in the fourth quarter worth about $135,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

About Costamare