Costamare Inc (NYSE:CMRE) announced a quarterly dividend on Tuesday, January 2nd, Zacks reports. Investors of record on Tuesday, January 23rd will be given a dividend of 0.10 per share by the shipping company on Tuesday, February 6th. This represents a $0.40 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Monday, January 22nd.
Costamare has decreased its dividend by an average of 28.8% per year over the last three years. Costamare has a dividend payout ratio of 52.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Costamare to earn $0.73 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 54.8%.
Costamare (NYSE CMRE) traded up $0.25 during trading hours on Wednesday, reaching $6.02. 449,700 shares of the company traded hands, compared to its average volume of 511,800. The company has a market capitalization of $648.10, a PE ratio of 16.72, a P/E/G ratio of 1.58 and a beta of 2.10. Costamare has a twelve month low of $5.07 and a twelve month high of $8.18. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87.
An institutional investor recently raised its position in Costamare stock. Vanguard Group Inc. raised its position in shares of Costamare Inc (NYSE:CMRE) by 19.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,736 shares of the shipping company’s stock after buying an additional 12,165 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Costamare worth $539,000 at the end of the most recent quarter. 25.62% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a report on Monday, October 30th. ValuEngine raised Costamare from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub raised Costamare from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Stifel Nicolaus reissued a “hold” rating and set a $7.00 price objective on shares of Costamare in a research report on Thursday, October 12th. Finally, Credit Suisse Group set a $7.00 price objective on Costamare and gave the company a “hold” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.
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.
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