COSTAMARE INC/SH (NYSE:CMRE) Declares $0.10 Quarterly Dividend

COSTAMARE INC/SH (NYSE:CMRE) announced a quarterly dividend on Monday, January 6th, Wall Street Journal reports. Stockholders of record on Tuesday, January 21st will be given a dividend of 0.10 per share by the shipping company on Wednesday, February 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, January 17th.

COSTAMARE INC/SH has decreased its dividend payment by an average of 25.6% annually over the last three years. COSTAMARE INC/SH has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect COSTAMARE INC/SH to earn $0.93 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 43.0%.

CMRE opened at $10.71 on Wednesday. The business’s 50 day moving average is $9.32 and its 200-day moving average is $7.07. The stock has a market cap of $1.26 billion, a PE ratio of 25.50 and a beta of 2.29. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. COSTAMARE INC/SH has a twelve month low of $4.61 and a twelve month high of $10.85.

COSTAMARE INC/SH (NYSE:CMRE) last released its quarterly earnings results on Wednesday, October 23rd. The shipping company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. The company had revenue of $123.37 million for the quarter, compared to analysts’ expectations of $116.48 million. COSTAMARE INC/SH had a return on equity of 8.70% and a net margin of 18.02%. The business’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, analysts forecast that COSTAMARE INC/SH will post 0.88 EPS for the current year.

A number of research firms have recently weighed in on CMRE. Citigroup cut COSTAMARE INC/SH from a “neutral” rating to a “sell” rating and lifted their price target for the company from $6.50 to $7.50 in a report on Friday, November 1st. TheStreet upgraded shares of COSTAMARE INC/SH from a “c” rating to a “b” rating in a research note on Wednesday, December 11th. Zacks Investment Research lowered shares of COSTAMARE INC/SH from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, ValuEngine upgraded shares of COSTAMARE INC/SH from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. COSTAMARE INC/SH has an average rating of “Hold” and an average price target of $7.50.

About COSTAMARE INC/SH

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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Dividend History for COSTAMARE INC/SH (NYSE:CMRE)

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