Costamare (NYSE:CMRE) Announces Earnings Results

Costamare (NYSE:CMRE) released its earnings results on Wednesday. The shipping company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02, FiscalAI reports. Costamare had a return on equity of 14.51% and a net margin of 39.40%. The firm had revenue of $208.78 million for the quarter, compared to the consensus estimate of $208.06 million.

Costamare Stock Performance

Shares of NYSE:CMRE traded down $0.18 on Friday, reaching $14.24. The company’s stock had a trading volume of 91,951 shares, compared to its average volume of 438,710. The stock has a market capitalization of $1.72 billion, a P/E ratio of 5.51 and a beta of 1.07. Costamare has a 52-week low of $11.91 and a 52-week high of $18.06. The stock’s 50-day moving average is $14.94 and its two-hundred day moving average is $15.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.61 and a quick ratio of 1.57.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Tuesday, October 20th will be given a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Costamare’s dividend payout ratio (DPR) is presently 19.31%.

Analyst Ratings Changes

CMRE has been the topic of a number of analyst reports. Zacks Research upgraded Costamare to a “hold” rating in a research report on Tuesday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Costamare in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About Costamare

Costamare Inc (NYSE: CMRE) is a global shipping company that owns and operates vessels used to transport containerized cargo and dry bulk commodities. Its containerships carry manufactured goods, consumer products and other cargo moved in standardized shipping containers, while its dry bulk vessels transport commodities such as grain, minerals and other bulk materials.

The company primarily generates revenue by chartering its vessels to international liner companies and other shipping customers under a range of charter arrangements.