$104.14 Million in Sales Expected for Costamare Inc. (CMRE) This Quarter
Brokerages expect Costamare Inc. (NYSE:CMRE) to report sales of $104.14 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Costamare’s earnings. The lowest sales estimate is $99.55 million and the highest is $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 11.9%. The business is scheduled to issue its next earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Costamare will report full-year sales of $104.14 million for the current financial year, with estimates ranging from $396.14 million to $423.30 million. For the next year, analysts anticipate that the firm will report sales of $388.56 million per share, with estimates ranging from $359.86 million to $430.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Costamare.
Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The company had revenue of $104.10 million during the quarter, compared to analyst estimates of $104.23 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year.
A number of brokerages have issued reports on CMRE. Zacks Investment Research downgraded shares of Costamare from a “hold” rating to a “strong sell” rating in a report on Monday, July 3rd. BidaskClub upgraded shares of Costamare from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price target on shares of Costamare in a report on Friday, July 14th. Finally, ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.21.
Costamare (NYSE:CMRE) opened at 6.14 on Tuesday. Costamare has a 12 month low of $5.07 and a 12 month high of $8.18. The stock has a market capitalization of $656.27 million, a price-to-earnings ratio of 7.77 and a beta of 2.17. The company has a 50-day moving average of $6.14 and a 200 day moving average of $6.69.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.51%. Costamare’s dividend payout ratio (DPR) is presently 105.27%.
Several institutional investors have recently bought and sold shares of the company. American International Group Inc. increased its holdings in shares of Costamare by 7.9% in the 1st quarter. American International Group Inc. now owns 16,419 shares of the shipping company’s stock worth $109,000 after buying an additional 1,202 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Costamare by 4.0% in the 1st quarter. Nationwide Fund Advisors now owns 84,031 shares of the shipping company’s stock worth $560,000 after buying an additional 3,211 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Costamare by 8.4% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 45,100 shares of the shipping company’s stock worth $330,000 after buying an additional 3,500 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Costamare by 14.1% in the 1st quarter. HighTower Advisors LLC now owns 31,686 shares of the shipping company’s stock worth $211,000 after buying an additional 3,910 shares during the last quarter. Finally, Brandes Investment Partners LP increased its holdings in shares of Costamare by 18.2% in the 2nd quarter. Brandes Investment Partners LP now owns 26,033 shares of the shipping company’s stock worth $190,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 26.95% of the company’s stock.
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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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