Zacks: Brokerages Anticipate Costamare Inc (CMRE) Will Post Earnings of $0.18 Per Share

Analysts forecast that Costamare Inc (NYSE:CMRE) will report $0.18 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Costamare’s earnings. The lowest EPS estimate is $0.13 and the highest is $0.24. Costamare posted earnings per share of $0.23 in the same quarter last year, which indicates a negative year over year growth rate of 21.7%. The firm is expected to report its next quarterly earnings report on Thursday, April 26th.

According to Zacks, analysts expect that Costamare will report full-year earnings of $0.72 per share for the current year, with EPS estimates ranging from $0.40 to $1.24. For the next fiscal year, analysts anticipate that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.62 to $1.82. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Costamare.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $99.20 million during the quarter, compared to the consensus estimate of $97.52 million. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share.

CMRE has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Costamare from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “buy” rating and set a $6.50 price target for the company in a report on Wednesday, December 27th. Credit Suisse Group set a $7.00 price target on shares of Costamare and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, BidaskClub downgraded shares of Costamare from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Costamare presently has a consensus rating of “Hold” and a consensus price target of $6.83.

Shares of Costamare (NYSE:CMRE) traded up $0.01 during midday trading on Friday, reaching $6.24. 336,135 shares of the company’s stock were exchanged, compared to its average volume of 655,368. Costamare has a 52 week low of $5.45 and a 52 week high of $8.18. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.81. The firm has a market cap of $683.86, a P/E ratio of 8.21 and a beta of 2.10.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 6th. Shareholders of record on Tuesday, January 23rd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date was Monday, January 22nd. Costamare’s payout ratio is 74.07%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC acquired a new stake in Costamare during the 2nd quarter worth about $105,000. FNY Partners Fund LP acquired a new stake in Costamare during the 3rd quarter worth about $106,000. Highbridge Capital Management LLC acquired a new stake in Costamare during the 3rd quarter worth about $124,000. Commerce Bank acquired a new stake in Costamare during the 3rd quarter worth about $155,000. Finally, Royal Bank of Canada raised its holdings in Costamare by 31.4% during the 2nd quarter. Royal Bank of Canada now owns 21,265 shares of the shipping company’s stock worth $155,000 after buying an additional 5,081 shares during the period. 25.07% of the stock is owned by institutional investors.

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Costamare Company Profile

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.

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