Costamare Inc (NYSE:CMRE) declared a quarterly dividend on Tuesday, January 2nd, Zacks reports. Shareholders of record on Tuesday, January 23rd will be given a dividend of 0.10 per share by the shipping company on Tuesday, February 6th. This represents a $0.40 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Monday, January 22nd.
Costamare has decreased its dividend by an average of 28.8% annually over the last three years. Costamare has a dividend payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Costamare to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 54.8%.
Costamare (NYSE:CMRE) opened at $6.22 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a market cap of $675.52, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.73 and a beta of 2.11. Costamare has a 12-month low of $5.07 and a 12-month high of $8.18.
Costamare (NYSE:CMRE) last posted its quarterly earnings data on Tuesday, October 24th. The shipping company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $100.24 million. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. equities research analysts predict that Costamare will post 0.75 earnings per share for the current year.
CMRE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Credit Suisse Group set a $7.00 target price on shares of Costamare and gave the company a “hold” rating in a research note on Wednesday, October 25th. Stifel Nicolaus restated a “hold” rating and issued a $7.00 target price on shares of Costamare in a research note on Thursday, October 12th. ValuEngine upgraded shares of Costamare from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Finally, BidaskClub upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.00.
An institutional investor recently raised its position in Costamare stock. Vanguard Group Inc. increased its holdings in shares of Costamare Inc (NYSE:CMRE) by 19.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,736 shares of the shipping company’s stock after acquiring an additional 12,165 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Costamare worth $539,000 at the end of the most recent quarter. 25.62% of the stock is owned by institutional investors and hedge funds.
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Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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