Zacks: Analysts Anticipate Costamare Inc. (CMRE) Will Post Quarterly Sales of $105.50 Million
Equities analysts forecast that Costamare Inc. (NYSE:CMRE) will report sales of $105.50 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Costamare’s earnings. The lowest sales estimate is $98.01 million and the highest is $118.10 million. Costamare reported sales of $110.13 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Costamare will report full-year sales of $105.50 million for the current fiscal year, with estimates ranging from $394.36 million to $417.10 million. For the next financial year, analysts anticipate that the company will post sales of $393.65 million per share, with estimates ranging from $358.56 million to $467.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Costamare.
Costamare (NYSE:CMRE) last posted its quarterly earnings data on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The business had revenue of $98.40 million for the quarter, compared to analyst estimates of $100.24 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was down 14.7% on a year-over-year basis.
A number of research firms recently commented on CMRE. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub lowered shares of Costamare from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Credit Suisse Group set a $7.00 price target on shares of Costamare and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Stifel Nicolaus restated a “hold” rating and issued a $7.00 price target on shares of Costamare in a research report on Thursday, October 12th. Finally, ValuEngine upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Costamare presently has a consensus rating of “Hold” and an average price target of $7.04.
Costamare (NYSE CMRE) opened at $6.05 on Monday. Costamare has a 12 month low of $5.07 and a 12 month high of $8.18. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87. The company has a market cap of $646.66, a P/E ratio of 6.88, a P/E/G ratio of 1.52 and a beta of 2.14.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Monday, October 23rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.40 annualized dividend and a yield of 6.61%. Costamare’s dividend payout ratio (DPR) is 111.11%.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in Costamare by 15,719.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock worth $19,019,000 after purchasing an additional 2,585,258 shares during the period. Q Global Advisors LLC acquired a new position in Costamare in the 2nd quarter worth approximately $7,227,000. Chiron Investment Management LLC acquired a new position in Costamare in the 2nd quarter worth approximately $6,850,000. Dimensional Fund Advisors LP acquired a new position in Costamare in the 2nd quarter worth approximately $6,356,000. Finally, Thrivent Financial For Lutherans boosted its stake in Costamare by 199,200.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 398,600 shares of the shipping company’s stock worth $2,913,000 after purchasing an additional 398,400 shares during the period. Hedge funds and other institutional investors own 26.29% of the company’s stock.
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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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