Costamare (CMRE) Expected to Post Earnings of $0.16 Per Share
Wall Street brokerages predict that Costamare (NYSE:CMRE) will report $0.16 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Costamare’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.10. Costamare reported earnings per share of $0.23 during the same quarter last year, which suggests a negative year-over-year growth rate of 30.4%. The business is expected to issue its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Costamare will report full year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $1.24. For the next year, analysts anticipate that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.52 to $1.82. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Costamare.
Costamare (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $99.20 million during the quarter, compared to analyst estimates of $97.52 million. Costamare had a net margin of 17.67% and a return on equity of 7.28%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share.
CMRE traded up $0.12 during trading on Monday, hitting $6.73. 408,719 shares of the company traded hands, compared to its average volume of 589,784. The firm has a market cap of $721.78, a P/E ratio of 8.74 and a beta of 1.99. 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 one year low of $5.45 and a one year high of $8.18.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 8th. Shareholders of record on Friday, April 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.40 dividend on an annualized basis and a yield of 5.94%. Costamare’s dividend payout ratio is presently 51.95%.
A number of large investors have recently modified their holdings of CMRE. Highbridge Capital Management LLC bought a new position in Costamare during the third quarter worth about $124,000. Trexquant Investment LP bought a new position in Costamare during the third quarter worth about $194,000. American International Group Inc. boosted its position in Costamare by 44.6% during the third quarter. American International Group Inc. now owns 32,784 shares of the shipping company’s stock worth $203,000 after purchasing an additional 10,111 shares during the period. The Manufacturers Life Insurance Company boosted its position in Costamare by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 29,117 shares of the shipping company’s stock worth $212,000 after purchasing an additional 5,912 shares during the period. Finally, Unison Advisors LLC bought a new position in Costamare during the fourth quarter worth about $244,000. Hedge funds and other institutional investors own 23.58% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Costamare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costamare and related companies with MarketBeat.com's FREE daily email newsletter.