Costamare Inc. (NYSE:CMRE) Plans Quarterly Dividend of $0.12

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Monday, July 1st, NASDAQ reports. Shareholders of record on Friday, July 19th will be paid a dividend of 0.115 per share by the shipping company on Tuesday, August 6th. This represents a $0.46 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, July 19th.

Costamare has increased its dividend payment by an average of 4.8% per year over the last three years. Costamare has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Costamare to earn $2.87 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 16.0%.

Costamare Trading Down 0.6 %

Shares of Costamare stock opened at $16.33 on Tuesday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 6.33 and a beta of 1.38. Costamare has a 52-week low of $8.54 and a 52-week high of $17.58. The company’s 50-day simple moving average is $14.57 and its 200-day simple moving average is $12.26. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80.

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

Wall Street Analyst Weigh In

CMRE has been the subject of several research analyst reports. StockNews.com cut Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Stifel Nicolaus increased their price target on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group boosted their price objective on shares of Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, May 10th.

Costamare Company Profile