Brokerages predict that Costamare (NYSE:CMRE) will post earnings of $0.14 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Costamare’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.07. Costamare posted earnings of $0.21 per share in the same quarter last year, which suggests a negative year over year growth rate of 33.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, July 24th.
On average, analysts expect that Costamare will report full year earnings of $0.47 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $0.70. For the next financial year, analysts expect that the firm will post earnings of $0.97 per share, with EPS estimates ranging from $0.47 to $1.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Costamare.
Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, May 1st. The shipping company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $92.75 million for the quarter, compared to the consensus estimate of $90.88 million. Costamare had a return on equity of 6.49% and a net margin of 17.27%. The company’s revenue was down 12.1% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS.
Several equities research analysts recently commented on the company. ValuEngine upgraded Costamare from a “hold” rating to a “buy” rating in a report on Friday, April 13th. Zacks Investment Research downgraded Costamare from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $6.83.
A number of hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP increased its holdings in Costamare by 42.4% during the 3rd quarter. GSA Capital Partners LLP now owns 52,874 shares of the shipping company’s stock worth $327,000 after purchasing an additional 15,739 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Costamare by 6.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 257,901 shares of the shipping company’s stock worth $1,488,000 after purchasing an additional 16,574 shares during the last quarter. California State Teachers Retirement System increased its holdings in Costamare by 25.8% during the 3rd quarter. California State Teachers Retirement System now owns 81,493 shares of the shipping company’s stock worth $504,000 after purchasing an additional 16,700 shares during the last quarter. Algert Global LLC increased its holdings in Costamare by 7.1% during the 4th quarter. Algert Global LLC now owns 403,971 shares of the shipping company’s stock worth $2,331,000 after purchasing an additional 26,605 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Costamare by 40.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 97,000 shares of the shipping company’s stock worth $600,000 after purchasing an additional 28,100 shares during the last quarter. Institutional investors own 23.62% of the company’s stock.
Shares of NYSE:CMRE traded up $0.19 during mid-day trading on Thursday, hitting $7.18. 698,145 shares of the company traded hands, compared to its average volume of 577,063. The company has a market cap of $739.25, a P/E ratio of 9.32 and a beta of 1.98. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 0.82. Costamare has a 52-week low of $5.45 and a 52-week high of $8.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.40 annualized dividend and a yield of 5.57%. Costamare’s dividend payout ratio is presently 51.95%.
Costamare Company Profile
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 23, 2018, it had a fleet of 71 containerships with a total capacity of approximately 466,000 twenty foot equivalent unit (TEU), including 64 vessels in the water, aggregating approximately 462,000 TEU; and 1 new build vessel of 3,800 TEU.
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