Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Monday, October 2nd, Zacks reports. Investors of record on Monday, October 23rd will be given a dividend of 0.10 per share by the shipping company on Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date of this dividend is Friday, October 20th.

Costamare has decreased its dividend payment by an average of 3.5% per year over the last three years. Costamare has a payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Costamare to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 55.6%.

Costamare (CMRE) opened at 6.27 on Tuesday. The company has a market cap of $664.56 million, a price-to-earnings ratio of 15.64 and a beta of 2.17. Costamare has a 52-week low of $5.07 and a 52-week high of $8.44. The firm’s 50-day moving average is $6.19 and its 200 day moving average is $6.71.

Costamare (NYSE:CMRE) last released its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $104.23 million. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. On average, equities research analysts predict that Costamare will post $0.82 EPS for the current fiscal year.

An institutional investor recently raised its position in Costamare stock. Vanguard Group Inc. boosted its stake in shares of Costamare Inc. (NYSE:CMRE) by 19.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,736 shares of the shipping company’s stock after buying an additional 12,165 shares during the period. Vanguard Group Inc. owned 0.08% of Costamare worth $539,000 at the end of the most recent quarter. 26.95% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have weighed in on CMRE. Zacks Investment Research lowered Costamare from a “hold” rating to a “strong sell” rating in a report on Monday, July 3rd. BidaskClub raised shares of Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 target price on shares of Costamare in a report on Friday, July 14th. Finally, ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.28.

Costamare Company Profile

Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.

Dividend History for Costamare (NYSE:CMRE)

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