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

Costamare Inc. (NYSE:CMRE) declared a quarterly dividend on Thursday, January 2nd,RTT News reports. Shareholders of record on Tuesday, January 21st will be given a dividend of 0.115 per share by the shipping company on Thursday, February 6th. This represents a $0.46 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, January 21st.

Costamare has increased its dividend payment by an average of 2.3% per year over the last three years. Costamare has a payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Costamare to earn $2.83 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 16.3%.

Costamare Stock Performance

CMRE stock opened at $12.29 on Friday. The firm has a 50-day simple moving average of $13.18 and a two-hundred day simple moving average of $13.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare has a one year low of $10.14 and a one year high of $17.58. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 4.08 and a beta of 1.33.

Costamare (NYSE:CMRE) last posted its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The company had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Costamare will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $13.00 target price on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Company Profile