Costamare Inc. (NYSE:cmre) declared a quarterly dividend on Tuesday, October 4th. Shareholders 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 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend is Wednesday, October 19th.
Costamare (NYSE:CMRE) opened at 7.32 on Wednesday. The firm has a 50-day moving average of $8.98 and a 200 day moving average of $9.18. Costamare has a 12-month low of $6.01 and a 12-month high of $15.10. The stock has a market capitalization of $554.10 million, a price-to-earnings ratio of 4.44 and a beta of 1.67.
Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Costamare had a net margin of 29.87% and a return on equity of 15.03%. The firm had revenue of $117.90 million for the quarter, compared to analyst estimates of $119.37 million. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts predict that Costamare will post $1.57 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in CMRE. Alliancebernstein L.P. purchased a new stake in shares of Costamare during the second quarter worth approximately $103,000. American International Group Inc. purchased a new stake in shares of Costamare during the second quarter worth approximately $117,000. Nationwide Fund Advisors purchased a new stake in shares of Costamare during the second quarter worth approximately $127,000. Nuveen Fund Advisors LLC purchased a new stake in shares of Costamare during the second quarter worth approximately $143,000. Finally, Rhumbline Advisers purchased a new stake in shares of Costamare during the second quarter worth approximately $179,000. Institutional investors own 15.13% of the company’s stock.
Several equities analysts have recently commented on CMRE shares. JPMorgan Chase & Co. upgraded shares of Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 price objective on the stock in a report on Monday, August 1st. Credit Suisse Group AG set a $9.00 price objective on shares of Costamare and gave the stock a “hold” rating in a report on Thursday, July 28th. Zacks Investment Research lowered shares of Costamare from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Clarkson Capital lowered shares of Costamare from a “buy” rating to a “neutral” rating in a report on Friday, June 17th. Finally, Morgan Stanley lowered shares of Costamare from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $7.50 in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.30.
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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