Costamare Inc (NYSE:CMRE) announced a quarterly dividend on Tuesday, January 2nd, Zacks reports. Shareholders of record on Tuesday, January 23rd will be paid 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 6.33%. 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 payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities research 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%.

Shares of Costamare (NYSE:CMRE) opened at $6.32 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.96. Costamare has a one year low of $5.07 and a one year high of $8.18. The stock has a market cap of $679.79, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.74 and a beta of 2.11.

Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The company had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. During the same period in the previous year, the business earned $0.37 EPS. The company’s revenue was down 14.7% on a year-over-year basis. equities research analysts anticipate that Costamare will post 0.75 earnings per share for the current year.

A hedge fund recently raised its stake in Costamare stock. Vanguard Group Inc. boosted its holdings in shares of Costamare Inc (NYSE:CMRE) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 owned by institutional investors.

A number of research firms have recently weighed in on CMRE. Zacks Investment Research downgraded shares of Costamare from a “hold” rating to a “sell” rating in a research note on Friday, January 12th. ValuEngine raised shares of Costamare from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of Costamare from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Credit Suisse Group set a $7.00 price target on shares of Costamare and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price target on shares of Costamare in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.00.

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About Costamare

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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