Wall Street brokerages forecast that Costamare Inc (NYSE:CMRE) will post $105.50 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Costamare’s earnings. The lowest sales estimate is $98.01 million and the highest is $118.10 million. Costamare posted sales of $110.13 million during the same quarter last year, which suggests a negative year over year growth rate of 4.2%. The firm is scheduled to issue its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Costamare will report full-year sales of $105.50 million for the current year, with estimates ranging from $395.48 million to $417.10 million. For the next financial year, analysts anticipate that the firm will report sales of $394.23 million per share, with estimates ranging from $358.96 million to $467.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Costamare.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s quarterly revenue was down 14.7% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Costamare from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Costamare from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. BidaskClub downgraded 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 target price on shares of Costamare and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $7.00 target price on shares of Costamare in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $7.04.

Shares of Costamare (CMRE) opened at $5.66 on Wednesday. Costamare has a one year low of $5.07 and a one year high of $8.18. The stock has a market cap of $602.83, a price-to-earnings ratio of 6.41, a P/E/G ratio of 1.49 and a beta of 2.11. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.87.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC bought a new stake in shares of Costamare during the 2nd quarter valued at about $105,000. Penn Capital Management Co. Inc. acquired a new position in Costamare during the 2nd quarter valued at about $125,000. FNY Partners Fund LP acquired a new position in Costamare during the 3rd quarter valued at about $106,000. Highbridge Capital Management LLC acquired a new position in Costamare during the 3rd quarter valued at about $124,000. Finally, Royal Bank of Canada boosted its stake in Costamare by 31.4% during the 2nd quarter. Royal Bank of Canada now owns 21,265 shares of the shipping company’s stock valued at $155,000 after purchasing an additional 5,081 shares during the period. 25.79% of the stock is owned by institutional investors.

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About Costamare

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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