Costamare Inc. (NYSE:CMRE – Get Free Report) declared a quarterly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Monday, October 21st will be paid a dividend of 0.115 per share by the shipping company on Wednesday, November 6th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, October 21st.
Costamare has increased its dividend by an average of 4.8% annually over the last three years. Costamare has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Costamare to earn $2.80 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 16.4%.
Costamare Trading Down 0.2 %
CMRE traded down $0.03 during trading on Wednesday, hitting $15.40. The company’s stock had a trading volume of 7,067 shares, compared to its average volume of 516,413. The firm has a market capitalization of $1.81 billion, a P/E ratio of 5.98 and a beta of 1.37. Costamare has a twelve month low of $8.54 and a twelve month high of $17.58. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $14.08 and its 200-day moving average price is $13.89.
Analysts Set New Price Targets
A number of equities research analysts have commented on CMRE shares. StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus boosted their price target on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price objective on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st.
Read Our Latest Report on CMRE
About Costamare
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