Wall Street analysts forecast that COSTAMARE INC/SH (NYSE:CMRE) will post earnings of $0.13 per share for the current quarter, according to Zacks. Four analysts have issued estimates for COSTAMARE INC/SH’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.10. COSTAMARE INC/SH posted earnings per share of $0.17 in the same quarter last year, which would indicate a negative year over year growth rate of 23.5%. The business is expected to report its next quarterly earnings report on Tuesday, January 22nd.
On average, analysts expect that COSTAMARE INC/SH will report full year earnings of $0.43 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.45. For the next financial year, analysts expect that the company will report earnings of $0.78 per share, with EPS estimates ranging from $0.51 to $1.33. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow COSTAMARE INC/SH.
COSTAMARE INC/SH (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, October 24th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $89.45 million for the quarter, compared to the consensus estimate of $93.98 million. COSTAMARE INC/SH had a net margin of 13.39% and a return on equity of 4.85%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share.
Several equities analysts have issued reports on the stock. ValuEngine downgraded shares of COSTAMARE INC/SH from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Wells Fargo & Co downgraded shares of COSTAMARE INC/SH from an “outperform” rating to a “market perform” rating and set a $7.00 price objective on the stock. in a report on Friday, September 28th. Zacks Investment Research raised shares of COSTAMARE INC/SH from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Finally, Morgan Stanley set a $8.00 price objective on shares of COSTAMARE INC/SH and gave the company a “buy” rating in a report on Saturday, October 27th.
CMRE traded up $0.01 during midday trading on Friday, hitting $4.96. 494,698 shares of the company traded hands, compared to its average volume of 448,926. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 0.70. The company has a market cap of $587.14 million, a price-to-earnings ratio of 6.44, a PEG ratio of 2.33 and a beta of 2.03. COSTAMARE INC/SH has a 52-week low of $4.83 and a 52-week high of $8.39.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of COSTAMARE INC/SH in the second quarter valued at about $106,000. Raymond James & Associates acquired a new stake in shares of COSTAMARE INC/SH in the second quarter valued at about $106,000. Bienville Capital Management LLC acquired a new stake in shares of COSTAMARE INC/SH in the second quarter valued at about $188,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of COSTAMARE INC/SH in the third quarter valued at about $168,000. Finally, Creative Planning acquired a new stake in shares of COSTAMARE INC/SH in the third quarter valued at about $180,000. Institutional investors and hedge funds own 24.13% of the company’s stock.
About COSTAMARE INC/SH
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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