Costamare Inc. (CMRE) Expected to Post Quarterly Sales of $104.69 Million
Analysts expect that Costamare Inc. (NYSE:CMRE) will announce $104.69 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Costamare’s earnings, with estimates ranging from $99.96 million to $112.90 million. Costamare posted sales of $118.26 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.5%. The business is scheduled to issue its next quarterly earnings results on Monday, October 23rd.
According to Zacks, analysts expect that Costamare will report full year sales of $104.69 million for the current fiscal year, with estimates ranging from $405.83 million to $423.30 million. For the next financial year, analysts forecast that the company will post sales of $388.83 million per share, with estimates ranging from $359.43 million to $430.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Costamare.
Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $104.23 million. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis.
Several brokerages recently weighed in on CMRE. Zacks Investment Research cut shares of Costamare from a “hold” rating to a “strong sell” rating in a research report on Monday, July 3rd. BidaskClub raised shares of Costamare from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.00 price target on shares of Costamare in a research report on Friday, July 14th. Finally, ValuEngine lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.50.
Shares of Costamare (NYSE:CMRE) opened at 5.91 on Friday. The firm has a market cap of $626.40 million, a P/E ratio of 14.74 and a beta of 2.22. Costamare has a 1-year low of $5.07 and a 1-year high of $9.54. The firm has a 50 day moving average price of $6.38 and a 200 day moving average price of $6.71.
Large investors have recently made changes to their positions in the business. Parkwood LLC bought a new position in Costamare in the 2nd quarter valued at $103,000. Voya Investment Management LLC bought a new stake in shares of Costamare during the 2nd quarter worth $105,000. American International Group Inc. lifted its holdings in shares of Costamare by 7.9% during the 1st quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock worth $109,000 after acquiring an additional 1,202 shares during the last quarter. Penn Capital Management Co. Inc. bought a new stake in shares of Costamare during the 2nd quarter worth $125,000. Finally, Sei Investments Co. bought a new stake in shares of Costamare during the 1st quarter worth $137,000. 27.23% of the stock is owned by hedge funds and other institutional investors.
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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.
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