Analysts expect COSTAMARE INC/SH (NYSE:CMRE) to report $0.13 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for COSTAMARE INC/SH’s earnings, with estimates ranging from $0.11 to $0.15. COSTAMARE INC/SH posted earnings per share of $0.10 in the same quarter last year, which indicates a positive year-over-year growth rate of 30%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 23rd.
According to Zacks, analysts expect that COSTAMARE INC/SH will report full year earnings of $0.52 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.59. For the next fiscal year, analysts forecast that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.69 to $0.94. 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 INC/SH.
COSTAMARE INC/SH (NYSE:CMRE) last posted its earnings results on Monday, April 22nd. The shipping company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.03. The business had revenue of $113.00 million during the quarter, compared to analyst estimates of $109.61 million. COSTAMARE INC/SH had a return on equity of 5.35% and a net margin of 11.59%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS.
Several analysts have weighed in on CMRE shares. ValuEngine downgraded COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research cut COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley set a $8.00 price target on COSTAMARE INC/SH and gave the stock a “buy” rating in a research note on Friday, February 15th.
Shares of NYSE CMRE traded up $0.08 during midday trading on Friday, hitting $5.86. 245,526 shares of the company’s stock were exchanged, compared to its average volume of 321,424. COSTAMARE INC/SH has a 12-month low of $4.20 and a 12-month high of $8.39. The company has a current ratio of 0.61, a quick ratio of 0.78 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $663.54 million, a price-to-earnings ratio of 13.95, a PEG ratio of 2.37 and a beta of 2.17.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Thursday, April 18th. COSTAMARE INC/SH’s dividend payout ratio (DPR) is currently 95.24%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of COSTAMARE INC/SH by 10.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,648,911 shares of the shipping company’s stock worth $23,682,000 after purchasing an additional 349,161 shares during the period. Renaissance Technologies LLC lifted its stake in shares of COSTAMARE INC/SH by 17.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,686,500 shares of the shipping company’s stock worth $10,945,000 after acquiring an additional 249,100 shares during the last quarter. Globeflex Capital L P lifted its stake in shares of COSTAMARE INC/SH by 38.7% during the 4th quarter. Globeflex Capital L P now owns 637,727 shares of the shipping company’s stock worth $2,800,000 after acquiring an additional 178,018 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in COSTAMARE INC/SH during the 4th quarter valued at $394,000. Finally, Denali Advisors LLC raised its position in COSTAMARE INC/SH by 6,784.8% during the 1st quarter. Denali Advisors LLC now owns 52,462 shares of the shipping company’s stock valued at $273,000 after purchasing an additional 51,700 shares in the last quarter. Institutional investors and hedge funds own 21.43% of the company’s stock.
About COSTAMARE INC/SH
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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