Costamare Inc. (NYSE:CMRE) to Issue Quarterly Dividend of $0.12

Posted by Max Byerly on Jan 2nd, 2025

Costamare Inc. (NYSE:CMRE – Get Free Report) announced a quarterly dividend on Thursday, January 2nd,RTT News reports. Investors of record on Tuesday, January 21st will be paid a dividend of 0.115 per share by the shipping company on Thursday, February 6th. This represents a $0.46 dividend on an annualized basis and a yield of 3.58%.

Costamare has raised its dividend by an average of 4.8% per year over the last three years. Costamare has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Costamare to earn $2.94 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 15.6%.

Costamare Stock Performance

Shares of Costamare stock opened at $12.85 on Thursday. The company has a market capitalization of $1.51 billion, a PE ratio of 4.27 and a beta of 1.34. The company has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $14.24. Costamare has a one year low of $10.14 and a one year high of $17.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE – Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same quarter in the previous year, the business posted $0.46 EPS. Research analysts expect that Costamare will post 2.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMRE. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $13.00 price target on shares of Costamare in a report on Friday, November 1st.

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