Costamare Inc. (NYSE:CMRE - Get Free Report) announced a quarterly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Monday, October 21st will be given a dividend of 0.115 per share by the shipping company on Wednesday, November 6th. This represents a $0.46 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Monday, October 21st.
Costamare has increased its dividend payment by an average of 4.8% per year over the last three years. Costamare has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costamare to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 16.4%.
Costamare Stock Up 1.8 %
Shares of NYSE:CMRE traded up $0.28 during trading on Wednesday, hitting $15.71. The stock had a trading volume of 330,390 shares, compared to its average volume of 518,115. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. Costamare has a 12 month low of $8.54 and a 12 month high of $17.58. The company has a market capitalization of $1.85 billion, a PE ratio of 5.97 and a beta of 1.37. The firm's fifty day moving average is $14.08 and its 200 day moving average is $13.89.
Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The firm had revenue of $515.42 million for the quarter, compared to analysts' expectations of $380.41 million. Analysts anticipate that Costamare will post 3.05 EPS for the current fiscal year.
Wall Street Analyst Weigh In
CMRE has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on Costamare from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Costamare from a "hold" rating to a "buy" rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group increased their price target on shares of Costamare from $12.00 to $13.00 and gave the company a "hold" rating in a report on Wednesday, July 31st.
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