Costamare (NYSE:CMRE) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Costamare (NYSE:CMRE) issued its earnings results on Monday. The shipping company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05, FiscalAI reports. Costamare had a return on equity of 15.34% and a net margin of 39.66%.The business had revenue of $196.24 million during the quarter, compared to analysts’ expectations of $193.16 million.

Costamare Trading Down 1.1%

Shares of NYSE CMRE opened at $15.45 on Wednesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 5.87 and a beta of 1.06. The business has a 50 day simple moving average of $15.41 and a 200 day simple moving average of $16.30. Costamare has a 52 week low of $9.38 and a 52 week high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.92 and a current ratio of 1.96.

Costamare Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 21st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, July 21st. This is a positive change from Costamare’s previous quarterly dividend of $0.12. Costamare’s dividend payout ratio (DPR) is presently 18.66%.

Hedge Funds Weigh In On Costamare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC grew its position in Costamare by 2.1% in the third quarter. Bridgeway Capital Management LLC now owns 1,200,169 shares of the shipping company’s stock worth $14,294,000 after acquiring an additional 25,154 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Costamare by 113.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,116,647 shares of the shipping company’s stock valued at $17,632,000 after purchasing an additional 593,734 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Costamare by 3.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 828,789 shares of the shipping company’s stock valued at $9,871,000 after purchasing an additional 25,985 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Costamare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 769,557 shares of the shipping company’s stock valued at $9,165,000 after purchasing an additional 19,385 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Costamare by 1.0% in the third quarter. Marshall Wace LLP now owns 710,989 shares of the shipping company’s stock worth $8,468,000 after purchasing an additional 7,057 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

Analysts Set New Price Targets

CMRE has been the subject of a number of research reports. Wall Street Zen lowered Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings raised shares of Costamare from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Fearnley Fonds upgraded shares of Costamare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.