Costamare Inc. (NYSE:CMRE) Expected to Post Quarterly Sales of $277.69 Million

Analysts predict that Costamare Inc. (NYSE:CMRE) will report sales of $277.69 million for the current quarter, according to Zacks. Three analysts have made estimates for Costamare’s earnings, with the highest sales estimate coming in at $285.20 million and the lowest estimate coming in at $269.70 million. Costamare reported sales of $119.14 million in the same quarter last year, which indicates a positive year-over-year growth rate of 133.1%. The company is scheduled to issue its next earnings report on Monday, February 7th.

On average, analysts expect that Costamare will report full year sales of $776.33 million for the current fiscal year, with estimates ranging from $773.06 million to $779.40 million. For the next financial year, analysts anticipate that the company will post sales of $1.15 billion, with estimates ranging from $1.09 billion to $1.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Costamare.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, October 26th. The shipping company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.10). The business had revenue of $216.23 million for the quarter, compared to the consensus estimate of $228.60 million. Costamare had a net margin of 47.87% and a return on equity of 16.64%. During the same period in the previous year, the company earned $0.22 earnings per share.

A number of brokerages have commented on CMRE. TheStreet upgraded Costamare from a “c+” rating to a “b-” rating in a research report on Wednesday, July 28th. Clarkson Capital restated a “buy” rating on shares of Costamare in a research report on Wednesday, October 27th. Zacks Investment Research upgraded Costamare from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Monday, October 25th. Finally, Citigroup upped their price target on Costamare from $14.50 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, September 8th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.83.

CMRE traded up $0.21 during midday trading on Friday, reaching $12.40. The company had a trading volume of 488,496 shares, compared to its average volume of 697,734. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average of $14.14 and a two-hundred day moving average of $12.68. The company has a market cap of $1.53 billion, a P/E ratio of 5.66 and a beta of 1.43. Costamare has a 1 year low of $6.92 and a 1 year high of $16.72.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 5th. Shareholders of record on Wednesday, October 20th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, October 19th. This represents a $0.46 annualized dividend and a yield of 3.71%. Costamare’s dividend payout ratio (DPR) is currently 21.00%.

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Costamare by 6.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,659 shares of the shipping company’s stock worth $2,705,000 after buying an additional 11,078 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Costamare by 83.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,403 shares of the shipping company’s stock worth $68,000 after purchasing an additional 2,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Costamare by 112.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,873 shares of the shipping company’s stock worth $215,000 after purchasing an additional 7,345 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Costamare by 18.0% during the 3rd quarter. Jane Street Group LLC now owns 45,987 shares of the shipping company’s stock worth $712,000 after purchasing an additional 6,999 shares during the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of Costamare by 13.9% during the 3rd quarter. National Asset Management Inc. now owns 16,370 shares of the shipping company’s stock worth $254,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 26.33% of the company’s stock.

Costamare Company Profile

Costamare, Inc is a holding company, engages in the provision of containerships chartering. The firm owns vessels such as new build containerships and second hand vessel. The company was founded on April 21, 2008 and is headquartered in Monaco.

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