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.

How to Become a New Pot Stock Millionaire

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.

Several research firms recently weighed in on CMRE. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. ValuEngine upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.83.

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.

ILLEGAL ACTIVITY WARNING: “Costamare (CMRE) Expected to Post Earnings of $0.16 Per Share” was reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2018/04/16/costamare-cmre-expected-to-post-earnings-of-0-16-per-share.html.

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.

Get a free copy of the Zacks research report on Costamare (CMRE)

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.