Zacks: Brokerages Expect Costamare Inc. (CMRE) to Post $0.19 Earnings Per Share
Wall Street analysts forecast that Costamare Inc. (NYSE:CMRE) will report earnings per share of $0.19 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Costamare’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.16. Costamare reported earnings per share of $0.37 in the same quarter last year, which would suggest a negative year-over-year growth rate of 48.6%. The business is scheduled to report its next earnings report on Monday, October 23rd.
On average, analysts expect that Costamare will report full-year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.95. For the next fiscal year, analysts expect that the company will report earnings of $0.72 per share, with EPS estimates ranging from $0.47 to $0.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Costamare.
Costamare (NYSE:CMRE) last announced its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $104.23 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. Costamare’s quarterly revenue was down 12.5% on a year-over-year basis.
A number of equities research analysts have weighed in on the company. Stifel Nicolaus set a $7.00 price objective on Costamare and gave the company a “hold” rating in a research note on Sunday, May 28th. ValuEngine cut Costamare from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Costamare from a “hold” rating to a “strong sell” rating in a research note on Monday, July 3rd. Finally, BidaskClub upgraded Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $8.50.
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Several large investors have recently added to or reduced their stakes in CMRE. Teachers Advisors LLC increased its holdings in shares of Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock valued at $1,598,000 after purchasing an additional 3,875 shares during the period. Nationwide Fund Advisors increased its holdings in shares of 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 purchasing an additional 3,211 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Costamare by 359.7% in the first quarter. Acadian Asset Management LLC now owns 304,201 shares of the shipping company’s stock valued at $2,026,000 after purchasing an additional 238,029 shares during the period. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of Costamare in the first quarter valued at approximately $341,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Costamare by 37.3% in the first quarter. Wells Fargo & Company MN now owns 190,228 shares of the shipping company’s stock valued at $1,267,000 after purchasing an additional 51,687 shares during the period. 27.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Costamare (CMRE) traded up 0.69% on Friday, reaching $5.82. The company had a trading volume of 311,113 shares. Costamare has a 12 month low of $5.07 and a 12 month high of $9.54. The stock has a 50 day moving average price of $6.41 and a 200-day moving average price of $6.72. The company has a market capitalization of $616.86 million, a price-to-earnings ratio of 14.51 and a beta of 2.22.
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.
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