Costamare Inc. (NYSE:CMRE - Get Free Report) announced a quarterly dividend on Tuesday, July 1st, RTT News reports. Shareholders 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 annualized dividend and a yield of 4.95%.
Costamare has a dividend payout ratio of 20.4% indicating that 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 Performance
NYSE CMRE traded up $0.09 during trading on Friday, reaching $9.29. The company's stock had a trading volume of 237,459 shares, compared to its average volume of 441,038. The firm has a 50 day moving average price of $8.88 and a 200 day moving average price of $10.14. Costamare has a 12 month low of $6.63 and a 12 month high of $16.97. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 3.81 and a beta of 1.20. The company has a current ratio of 1.55, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.
Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.09. Costamare had a return on equity of 13.44% and a net margin of 15.27%. The business had revenue of $440.54 million for the quarter, compared to the consensus estimate of $330.14 million. As a group, equities analysts anticipate that Costamare will post 2.52 EPS for the current fiscal year.
Institutional Trading of Costamare
Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC bought a new position in Costamare in the first quarter valued at approximately $6,075,000. Goldman Sachs Group Inc. boosted its holdings in shares of Costamare by 42.2% in the 1st 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 in the last quarter. Jane Street Group LLC boosted its holdings in shares of Costamare by 156.9% in the 1st quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company's stock valued at $1,978,000 after purchasing an additional 122,737 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Costamare in the 1st quarter valued at $192,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Costamare by 13.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company's stock valued at $188,000 after purchasing an additional 2,267 shares during the last quarter. Institutional investors own 58.08% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen began coverage on Costamare in a report on Thursday, May 15th. They set a "hold" rating on the stock.
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