Costamare (NYSE:CMRE) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Costamare (NYSE:CMRE) announced its earnings results on Thursday. The shipping company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.15, Briefing.com reports. Costamare had a net margin of 39.93% and a return on equity of 16.42%. Costamare’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share.

Costamare Stock Up 1.3%

NYSE:CMRE traded up $0.22 during trading hours on Friday, reaching $17.61. The company had a trading volume of 489,486 shares, compared to its average volume of 396,567. Costamare has a twelve month low of $7.56 and a twelve month high of $18.06. The company has a quick ratio of 1.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 6.57 and a beta of 1.10. The business’s 50-day simple moving average is $16.98 and its two-hundred day simple moving average is $15.86.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Monday, April 20th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, April 20th. Costamare’s dividend payout ratio (DPR) is presently 17.16%.

Hedge Funds Weigh In On Costamare

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in Costamare by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,393 shares of the shipping company’s stock valued at $140,000 after buying an additional 1,148 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in Costamare by 3.0% in the fourth quarter. State of Wisconsin Investment Board now owns 46,069 shares of the shipping company’s stock worth $727,000 after acquiring an additional 1,331 shares in the last quarter. Ieq Capital LLC grew its stake in Costamare by 2.2% in the fourth quarter. Ieq Capital LLC now owns 72,722 shares of the shipping company’s stock valued at $1,148,000 after acquiring an additional 1,575 shares during the period. Pinnacle Holdings LLC acquired a new stake in Costamare in the fourth quarter valued at approximately $30,000. Finally, Stifel Financial Corp increased its holdings in shares of Costamare by 4.8% during the fourth quarter. Stifel Financial Corp now owns 44,308 shares of the shipping company’s stock valued at $700,000 after acquiring an additional 2,034 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMRE. Fearnley Fonds raised Costamare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wall Street Zen lowered Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings cut Costamare from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long?term and short?term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.