Costamare Inc. (NYSE:CMRE) to Issue $0.12 Quarterly Dividend

Key Points

• Costamare Inc. will issue a $0.12 quarterly dividend to investors of record on October 21st, with an annual dividend yield of 3.8% and a payout ratio of 20.4%.
• The company's shares traded down 1.4% to $11.96, with a market capitalization of $1.44 billion and a price-to-earnings ratio of 5.07.
• Analysts have upgraded Costamare's stock rating from "strong sell" to "strong-buy," with a consensus price target of $13.00.

Costamare Inc. (NYSE:CMRE - Get Free Report) announced a quarterly dividend on Thursday, October 2nd. Investors of record on Tuesday, October 21st will be given a dividend of 0.115 per share by the shipping company on Thursday, November 6th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, October 21st.

Costamare has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.4%

Shares of NYSE:CMRE traded down $0.17 during mid-day trading on Thursday, reaching $11.96. 468,572 shares of the company's stock were exchanged, compared to its average volume of 489,903. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 5.07 and a beta of 1.38. The business's fifty day moving average price is $11.53 and its 200-day moving average price is $9.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. Costamare has a twelve month low of $6.63 and a twelve month high of $15.66.

Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.29. Costamare had a net margin of 17.10% and a return on equity of 13.67%. The business had revenue of $211.20 million during the quarter, compared to the consensus estimate of $209.72 million. During the same quarter last year, the firm earned $0.76 earnings per share. On average, research analysts predict that Costamare will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Costamare from a "strong sell" rating to a "strong-buy" rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $13.00.

Costamare Company Profile

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