COSTAMARE INC/SH (NYSE:CMRE) Expected to Post Earnings of $0.13 Per Share

Wall Street brokerages predict that COSTAMARE INC/SH (NYSE:CMRE) will report earnings of $0.13 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for COSTAMARE INC/SH’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.12. COSTAMARE INC/SH reported earnings of $0.10 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 30%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that COSTAMARE INC/SH will report full year earnings of $0.55 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.59. For the next financial year, analysts expect that the firm will post earnings of $0.82 per share, with EPS estimates ranging from $0.75 to $0.89. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow COSTAMARE INC/SH.

COSTAMARE INC/SH (NYSE:CMRE) last announced its quarterly earnings data on Monday, April 22nd. The shipping company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. COSTAMARE INC/SH had a net margin of 11.59% and a return on equity of 5.35%. The business had revenue of $113.00 million during the quarter, compared to the consensus estimate of $109.61 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year.

A number of equities research analysts recently weighed in on CMRE shares. ValuEngine downgraded shares of COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded shares of COSTAMARE INC/SH from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, TheStreet cut shares of COSTAMARE INC/SH from a “c-” rating to a “d+” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.92.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of COSTAMARE INC/SH by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 157,477 shares of the shipping company’s stock valued at $1,022,000 after acquiring an additional 10,123 shares during the period. Rhumbline Advisers increased its holdings in shares of COSTAMARE INC/SH by 42.7% in the 4th quarter. Rhumbline Advisers now owns 68,161 shares of the shipping company’s stock valued at $299,000 after acquiring an additional 20,383 shares during the period. Prudential Financial Inc. increased its holdings in shares of COSTAMARE INC/SH by 2.8% in the 4th quarter. Prudential Financial Inc. now owns 507,265 shares of the shipping company’s stock valued at $2,227,000 after acquiring an additional 14,025 shares during the period. California Public Employees Retirement System increased its holdings in shares of COSTAMARE INC/SH by 31.5% in the 4th quarter. California Public Employees Retirement System now owns 24,435 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 5,852 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of COSTAMARE INC/SH by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,513,813 shares of the shipping company’s stock valued at $11,036,000 after acquiring an additional 37,755 shares during the period. Hedge funds and other institutional investors own 21.19% of the company’s stock.

Shares of NYSE:CMRE opened at $5.13 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. COSTAMARE INC/SH has a fifty-two week low of $4.20 and a fifty-two week high of $8.39. The firm’s 50-day simple moving average is $5.30. The company has a market cap of $576.94 million, a P/E ratio of 12.21, a PEG ratio of 1.85 and a beta of 2.21.

COSTAMARE INC/SH Company Profile

Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.

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