Costamare Inc (CMRE) Expected to Announce Quarterly Sales of $105.50 Million
Equities research analysts expect Costamare Inc (NYSE:CMRE) to report $105.50 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Costamare’s earnings, with the lowest sales estimate coming in at $98.01 million and the highest estimate coming in at $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 business is expected to report its next earnings report 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 $395.10 million to $417.10 million. For the next year, analysts forecast that the firm will report sales of $394.23 million per share, with estimates ranging from $358.96 million to $467.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Costamare.
Costamare (NYSE:CMRE) last issued its quarterly earnings results on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Costamare had a return on equity of 7.57% and a net margin of 14.03%. The company had revenue of $98.40 million for the quarter, compared to analyst estimates of $100.24 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 14.7% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its position in Costamare by 71.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 68,900 shares of the shipping company’s stock worth $504,000 after buying an additional 28,700 shares in the last quarter. Rhumbline Advisers lifted its stake in Costamare by 49.0% during the second quarter. Rhumbline Advisers now owns 41,490 shares of the shipping company’s stock worth $303,000 after purchasing an additional 13,638 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Costamare by 22.9% during the second quarter. Bank of New York Mellon Corp now owns 114,576 shares of the shipping company’s stock worth $838,000 after purchasing an additional 21,315 shares during the last quarter. Prudential Financial Inc. lifted its stake in Costamare by 668.1% during the second quarter. Prudential Financial Inc. now owns 328,920 shares of the shipping company’s stock worth $2,404,000 after purchasing an additional 286,100 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Costamare by 15,719.7% during the second 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 last quarter. 25.62% of the stock is currently owned by institutional investors.
Costamare (CMRE) traded up $0.01 during trading hours on Tuesday, reaching $6.36. The company’s stock had a trading volume of 440,900 shares, compared to its average volume of 495,522. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $676.46, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.74 and a beta of 2.10. Costamare has a 12-month low of $5.07 and a 12-month high of $8.18.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 6th. Stockholders of record on Tuesday, January 23rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, January 22nd. Costamare’s payout ratio is 111.11%.
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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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