Costamare Inc. (NYSE:CMRE) is scheduled to release its earnings data after the market closes on Wednesday, October 19th. Analysts expect Costamare to post earnings of $0.36 per share for the quarter.
Costamare (NYSE:CMRE) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The company earned $117.90 million during the quarter, compared to the consensus estimate of $119.37 million. Costamare had a net margin of 29.87% and a return on equity of 15.03%. Costamare’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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.
Shares of Costamare Inc. (NYSE:CMRE) opened at 7.25 on Monday. Costamare Inc. has a 12-month low of $6.01 and a 12-month high of $15.10. The firm has a market cap of $548.80 million, a P/E ratio of 4.40 and a beta of 1.66. The firm has a 50-day moving average of $8.62 and a 200-day moving average of $9.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 4th. Stockholders of record on Friday, October 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Wednesday, October 19th. Costamare’s payout ratio is 70.30%.
Several hedge funds have recently made changes to their positions in CMRE. KCG Holdings Inc. acquired a new stake in shares of Costamare during the second quarter valued at about $196,000. State Street Corp increased its stake in shares of Costamare by 1,071.2% in the second quarter. State Street Corp now owns 357,156 shares of the company’s stock valued at $2,736,000 after buying an additional 326,660 shares during the period. Nuveen Fund Advisors LLC acquired a new stake in shares of Costamare during the second quarter valued at about $143,000. Rhumbline Advisers acquired a new stake in shares of Costamare during the second quarter valued at about $179,000. Finally, Teachers Advisors Inc. increased its stake in shares of Costamare by 16.3% in the second quarter. Teachers Advisors Inc. now owns 253,178 shares of the company’s stock valued at $1,942,000 after buying an additional 35,434 shares during the period. 15.11% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on CMRE shares. JPMorgan Chase & Co. raised shares of 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. Credit Suisse Group AG set a $9.00 target price on shares of Costamare and gave the company a “hold” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a report on Monday, October 3rd. Stifel Nicolaus downgraded shares of Costamare from a “hold” rating to a “sell” rating and lowered their target price for the company from $10.00 to $5.00 in a report on Tuesday, October 4th. Finally, Morgan Stanley downgraded shares of Costamare from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $7.50 in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Costamare presently has an average rating of “Hold” and an average target price of $9.55.