Costamare (NYSE:CMRE) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Costamare Inc. (NYSE:CMRE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.63 and traded as high as $16.89. Costamare shares last traded at $16.8370, with a volume of 377,946 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings cut shares of Costamare from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, March 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Costamare presently has an average rating of “Hold” and an average price target of $12.00.

Costamare Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.02 billion, a P/E ratio of 5.91 and a beta of 1.21. The business’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $14.63.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, February 18th. The shipping company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.14). The firm had revenue of $200.18 million during the quarter, compared to the consensus estimate of $204.00 million. Costamare had a return on equity of 15.52% and a net margin of 33.19%.The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts predict that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $0.46 annualized dividend and a yield of 2.7%. Costamare’s dividend payout ratio is currently 16.14%.

Hedge Funds Weigh In On Costamare

Several large investors have recently made changes to their positions in CMRE. Caitong International Asset Management Co. Ltd grew its position in shares of Costamare by 652.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,627 shares of the shipping company’s stock worth $41,000 after purchasing an additional 2,278 shares in the last quarter. DGS Capital Management LLC raised its stake in Costamare by 28.6% during the 4th quarter. DGS Capital Management LLC now owns 24,605 shares of the shipping company’s stock valued at $389,000 after purchasing an additional 5,475 shares during the period. Mackenzie Financial Corp lifted its holdings in Costamare by 30.5% in the 4th quarter. Mackenzie Financial Corp now owns 79,199 shares of the shipping company’s stock worth $1,249,000 after purchasing an additional 18,512 shares in the last quarter. Empowered Funds LLC lifted its holdings in Costamare by 1.9% in the 4th quarter. Empowered Funds LLC now owns 599,006 shares of the shipping company’s stock worth $9,458,000 after purchasing an additional 11,037 shares in the last quarter. Finally, VestGen Advisors LLC bought a new position in Costamare in the 4th quarter worth approximately $5,455,000. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.