Costamare Inc. (NYSE:cmre) declared a quarterly dividend on Tuesday, October 4th. Stockholders of record on Friday, October 21st will be paid a dividend of 0.10 per share on Friday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 5.41%. The ex-dividend date is Wednesday, October 19th.
Costamare (NYSE:CMRE) opened at 7.39 on Tuesday. The company has a market capitalization of $559.40 million, a P/E ratio of 4.48 and a beta of 1.66. The stock’s 50 day moving average price is $8.58 and its 200 day moving average price is $9.08. Costamare has a 52 week low of $6.01 and a 52 week high of $15.10.
Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $119.37 million. Costamare had a return on equity of 15.03% and a net margin of 29.87%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. Analysts anticipate that Costamare will post $1.54 earnings per share for the current year.
Several research analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Costamare from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.00 to $13.00 in a report on Wednesday, October 5th. Stifel Nicolaus downgraded 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 note on Tuesday, October 4th. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Barclays PLC lowered their price objective on Costamare from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, October 3rd. Finally, Credit Suisse Group AG set a $9.00 price objective on Costamare and gave the stock a “hold” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.55.
Several hedge funds have recently modified their holdings of CMRE. KCG Holdings Inc. acquired a new stake in shares of Costamare during the second quarter worth approximately $196,000. State Street Corp increased its stake in shares of Costamare by 1,071.2% in the second quarter. State Street Corp now owns 357,156 shares of the company’s stock worth $2,736,000 after buying an additional 326,660 shares during the last quarter. Nuveen Fund Advisors LLC acquired a new stake in shares of Costamare during the second quarter worth approximately $143,000. Rhumbline Advisers acquired a new stake in shares of Costamare during the second quarter worth approximately $179,000. Finally, Teachers Advisors Inc. increased its stake in shares of Costamare by 16.3% in the second quarter. Teachers Advisors Inc. now owns 253,178 shares of the company’s stock worth $1,942,000 after buying an additional 35,434 shares during the last quarter. 15.11% of the stock is owned by institutional investors.
Costamare Company Profile