Zacks: Brokerages Anticipate Costamare Inc. (CMRE) Will Post Earnings of $0.24 Per Share

Equities research analysts predict that Costamare Inc. (NYSE:CMRE) will report earnings of $0.24 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Costamare’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.21. Costamare posted earnings per share of $0.42 during the same quarter last year, which suggests a negative year-over-year growth rate of 42.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, July 26th.

According to Zacks, analysts expect that Costamare will report full year earnings of $0.92 per share for the current year, with EPS estimates ranging from $0.81 to $1.10. For the next financial year, analysts anticipate that the business will post earnings of $0.85 per share, with EPS estimates ranging from $0.52 to $1.16. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Costamare.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Thursday, April 27th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Costamare had a net margin of 15.38% and a return on equity of 10.50%. The company had revenue of $105.52 million for the quarter, compared to the consensus estimate of $103.41 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue was down 12.3% compared to the same quarter last year.

A number of research firms have recently weighed in on CMRE. TheStreet upgraded shares of Costamare from a “d+” rating to a “c” rating in a research note on Friday, April 28th. Stifel Nicolaus set a $7.00 price target on shares of Costamare and gave the company a “hold” rating in a research note on Sunday, May 28th. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group upgraded shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price target on the stock in a research note on Monday, May 1st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.81.

Large investors have recently bought and sold shares of the company. American International Group Inc. increased its stake in Costamare by 7.9% in the first quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock valued at $109,000 after buying an additional 1,202 shares in the last quarter. Vanguard Group Inc. raised its position in Costamare by 2.4% in the first quarter. Vanguard Group Inc. now owns 61,571 shares of the shipping company’s stock valued at $410,000 after buying an additional 1,429 shares during the last quarter. Federated Investors Inc. PA raised its position in Costamare by 9.5% in the fourth quarter. Federated Investors Inc. PA now owns 21,531 shares of the shipping company’s stock valued at $121,000 after buying an additional 1,862 shares during the last quarter. Nationwide Fund Advisors raised its position in Costamare by 4.0% in the first quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock valued at $560,000 after buying an additional 3,211 shares during the last quarter. Finally, State Street Corp raised its position in Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock valued at $2,417,000 after buying an additional 3,614 shares during the last quarter. Institutional investors and hedge funds own 18.55% of the company’s stock.

Shares of Costamare (CMRE) traded down 1.78% during trading on Thursday, hitting $6.61. 388,994 shares of the stock were exchanged. The firm has a market capitalization of $605.40 million, a P/E ratio of 11.02 and a beta of 2.24. The firm has a 50 day moving average price of $7.22 and a 200 day moving average price of $6.40. Costamare has a 52 week low of $5.07 and a 52 week high of $10.45.

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Costamare Company Profile

Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CMRE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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