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

Costamare Inc. (NYSE:CMRE - Get Free Report) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Stockholders of record on Monday, July 21st will be paid a dividend of 0.115 per share by the shipping company on Wednesday, August 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.04%.

Costamare has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costamare to earn $2.42 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 19.0%.

Costamare Stock Down 1.2%

Costamare stock opened at $9.13 on Tuesday. The company has a market cap of $1.10 billion, a PE ratio of 3.74 and a beta of 1.21. Costamare has a fifty-two week low of $6.63 and a fifty-two week high of $17.12. The business's 50-day simple moving average is $8.85 and its two-hundred day simple moving average is $10.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 1.55.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. The business had revenue of $440.54 million for the quarter, compared to analyst estimates of $330.14 million. Costamare had a net margin of 15.27% and a return on equity of 13.44%. Equities analysts anticipate that Costamare will post 2.52 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on shares of Costamare in a report on Thursday, May 15th. They issued a "hold" rating for the company.

Hedge Funds Weigh In On Costamare

Large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd grew its stake in Costamare by 13.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company's stock worth $188,000 after buying an additional 2,267 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Costamare in the 1st quarter valued at $192,000. Jane Street Group LLC boosted its stake in Costamare by 156.9% during the 1st quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company's stock worth $1,978,000 after purchasing an additional 122,737 shares during the period. Goldman Sachs Group Inc. increased its stake in Costamare by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company's stock valued at $4,721,000 after purchasing an additional 142,372 shares during the period. Finally, Millennium Management LLC acquired a new position in Costamare in the first quarter valued at $6,075,000. Hedge funds and other institutional investors own 58.08% of the company's stock.

Costamare Company Profile

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