Costamare Inc. (cmre) to Issue Quarterly Dividend of $0.10 on November 4th
Costamare Inc. (NYSE:cmre) announced a quarterly dividend on Tuesday, October 4th. Stockholders of record on Friday, October 21st will be given a dividend of 0.10 per share on Friday, November 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date is Wednesday, October 19th.
Shares of Costamare (NYSE:CMRE) opened at 7.46 on Friday. Costamare has a 52-week low of $6.01 and a 52-week high of $15.10. The stock has a 50 day moving average of $8.66 and a 200-day moving average of $9.10. The stock has a market capitalization of $564.70 million, a price-to-earnings ratio of 4.53 and a beta of 1.67.
Costamare (NYSE:CMRE) last announced its earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Costamare had a return on equity of 15.03% and a net margin of 29.87%. The company earned $117.90 million during the quarter, compared to analyst estimates of $119.37 million. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Costamare will post $1.54 EPS for the current fiscal year.
A number of analysts have recently weighed in on CMRE shares. JPMorgan Chase & Co. upgraded Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 target price for the company in a research note on Monday, August 1st. Credit Suisse Group AG set a $9.00 price objective on Costamare and gave the stock a “hold” rating in a research report on Thursday, July 28th. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Clarkson Capital lowered Costamare from a “buy” rating to a “neutral” rating in a research report on Friday, June 17th. Finally, Stifel Nicolaus lowered Costamare from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $10.00 to $5.00 in a research report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Costamare presently has an average rating of “Hold” and a consensus price target of $9.55.
Several institutional investors have recently bought and sold shares of CMRE. Alliancebernstein L.P. bought a new position in Costamare during the second quarter valued at about $103,000. American International Group Inc. bought a new position in Costamare during the second quarter valued at about $117,000. Nationwide Fund Advisors bought a new position in Costamare during the second quarter valued at about $127,000. Nuveen Fund Advisors LLC bought a new position in Costamare during the second quarter valued at about $143,000. Finally, Rhumbline Advisers bought a new position in Costamare during the second quarter valued at about $179,000. Institutional investors own 15.13% of the company’s stock.
Costamare Company Profile
Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.
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