Costamare Inc. (NYSE:CMRE) will be issuing its quarterly earnings data after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.36 per share for the quarter.
Costamare (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $119.37 million. Costamare had a return on equity of 15.03% and a net margin of 29.87%. Costamare’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. On average, analysts expect Costamare to post $1.53 EPS for the current fiscal year and $1.34 EPS for the next fiscal year.
Costamare Inc. (NYSE:CMRE) opened at 7.39 on Tuesday. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $9.08. The stock has a market cap of $559.40 million, a PE ratio of 4.48 and a beta of 1.66. Costamare Inc. has a 52 week low of $6.01 and a 52 week high of $15.10.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 4th. Shareholders of record on Friday, October 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Wednesday, October 19th. Costamare’s dividend payout ratio (DPR) is 70.30%.
Several institutional investors have recently modified their holdings of CMRE. Alliancebernstein L.P. purchased a new position in shares of Costamare during the second quarter valued at about $103,000. American International Group Inc. purchased a new position in shares of Costamare during the second quarter valued at about $117,000. Nationwide Fund Advisors purchased a new position in shares of Costamare during the second quarter valued at about $127,000. Nuveen Fund Advisors LLC purchased a new position in shares of Costamare during the second quarter valued at about $143,000. Finally, Rhumbline Advisers purchased a new position in shares of Costamare during the second quarter valued at about $179,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on CMRE. Stifel Nicolaus cut Costamare from a “hold” rating to a “sell” rating and decreased their target price for the stock from $10.00 to $5.00 in a report on Tuesday, October 4th. Barclays PLC decreased their target price on Costamare from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, October 3rd. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. JPMorgan Chase & Co. upgraded Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 target price on the stock in a report on Monday, August 1st. Finally, Credit Suisse Group AG set a $9.00 target price on Costamare and gave the stock a “hold” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.55.
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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