Costamare (NYSE:CMRE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Costamare (NYSE:CMRE) issued its earnings results on Wednesday. The shipping company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02, FiscalAI reports. The company had revenue of $208.78 million during the quarter, compared to the consensus estimate of $208.06 million. Costamare had a return on equity of 15.11% and a net margin of 39.66%.

Costamare Stock Performance

NYSE:CMRE traded down $0.13 during midday trading on Thursday, reaching $14.65. 120,667 shares of the company traded hands, compared to its average volume of 437,489. Costamare has a twelve month low of $11.91 and a twelve month high of $18.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.61 and a quick ratio of 1.57. The company has a fifty day moving average price of $14.96 and a 200 day moving average price of $15.87. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 5.57 and a beta of 1.07.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Tuesday, October 20th will be issued a $0.1250 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $0.50 annualized dividend and a dividend yield of 3.4%. Costamare’s dividend payout ratio (DPR) is 19.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMRE shares. Zacks Research upgraded Costamare to a “hold” rating in a research note on Tuesday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Costamare in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Costamare Company Profile

Costamare Inc (NYSE: CMRE) is a global shipping company that owns and operates vessels used to transport containerized cargo and dry bulk commodities. Its containerships carry manufactured goods, consumer products and other cargo moved in standardized shipping containers, while its dry bulk vessels transport commodities such as grain, minerals and other bulk materials.

The company primarily generates revenue by chartering its vessels to international liner companies and other shipping customers under a range of charter arrangements.