Equities research analysts expect that Costamare Inc (NYSE:CMRE) will report $0.18 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Costamare’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.13. Costamare reported earnings of $0.23 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.7%. The firm is expected to announce its next earnings report on Thursday, April 26th.
On average, analysts expect that Costamare will report full year earnings of $0.72 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $1.24. For the next year, analysts anticipate that the firm will post earnings of $1.03 per share, with EPS estimates ranging from $0.62 to $1.82. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Costamare.
Costamare (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $99.20 million for the quarter, compared to analyst estimates of $97.52 million. Costamare had a return on equity of 7.28% and a net margin of 17.67%. Costamare’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS.
CMRE has been the topic of a number of analyst reports. Zacks Investment Research raised Costamare from a “sell” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, December 27th. ValuEngine lowered Costamare from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.83.
CMRE stock opened at $6.64 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $725.05, a price-to-earnings ratio of 8.62 and a beta of 1.99. Costamare has a 1 year low of $5.45 and a 1 year high of $8.18.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 8th. Stockholders of record on Friday, April 20th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Thursday, April 19th. Costamare’s dividend payout ratio (DPR) is presently 51.95%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Highbridge Capital Management LLC purchased a new position in Costamare during the 3rd quarter worth approximately $124,000. The Manufacturers Life Insurance Company grew its stake in Costamare by 25.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,117 shares of the shipping company’s stock worth $212,000 after buying an additional 5,912 shares during the last quarter. Trexquant Investment LP purchased a new position in Costamare during the 3rd quarter worth approximately $194,000. American International Group Inc. grew its stake in Costamare by 44.6% during the 3rd quarter. American International Group Inc. now owns 32,784 shares of the shipping company’s stock worth $203,000 after buying an additional 10,111 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in Costamare during the 3rd quarter worth approximately $255,000. 23.58% of the stock is currently owned by institutional investors and hedge funds.
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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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