Costamare Inc. (CMRE) To Go Ex-Dividend on July 19th

Costamare Inc. (NYSE:CMRE) announced a quarterly dividend on Monday, July 1st, NASDAQ reports. Investors of record on Friday, July 19th will be paid a dividend of 0.115 per share by the shipping company on Tuesday, August 6th. This represents a $0.46 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, July 19th.

Costamare has increased its dividend payment by an average of 4.8% annually over the last three years. Costamare has a payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Costamare to earn $2.87 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 16.0%.

Costamare Stock Performance

Shares of Costamare stock opened at $16.66 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80. Costamare has a twelve month low of $8.54 and a twelve month high of $17.58. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 6.46 and a beta of 1.38. The company’s fifty day moving average is $14.68 and its 200 day moving average is $12.30.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Friday, May 10th. The shipping company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $475.43 million for the quarter, compared to analysts’ expectations of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. Sell-side analysts forecast that Costamare will post 3.08 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on CMRE shares. Stifel Nicolaus upped their price target on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, StockNews.com lowered shares of Costamare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 21st.

About Costamare