Costamare (NYSE:CMRE) Releases Earnings Results, Beats Expectations By $0.11 EPS

Costamare (NYSE:CMRE - Get Free Report) announced its quarterly earnings results on Tuesday. The shipping company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.11, Zacks reports. Costamare had a net margin of 17.10% and a return on equity of 13.67%.Costamare Trading Up 2.1%Costamare stock traded up $0.27 during trading hours on Wednesday, reaching $13.26. The stock had a trading volume of 350,404 shares, compared to its average volume of 506,414. The stock has a market cap of $1.59 billion, a PE ratio of 5.62 and a beta of 1.38. Costamare has a 52 week low of $6.63 and a 52 week high of $14.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.64. The company has a fifty day simple moving average of $11.91 and a 200-day simple moving average of $10.31. Costamare Dividend AnnouncementThe company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, October 21st. Costamare's dividend payout ratio (DPR) is 19.49%. Wall Street Analysts Forecast GrowthSeveral research firms have issued reports on CMRE. Weiss Ratings reiterated a "hold (c)" rating on shares of Costamare in a research note on Wednesday, October 8th. Zacks Research lowered shares of Costamare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 21st. Finally, Jefferies Financial Group increased their price target on shares of Costamare from $11.00 to $12.00 and gave the stock a "hold" rating in a report on Tuesday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Costamare has a consensus rating of "Hold" and an average target price of $12.00.Check Out Our Latest Report on CMREInstitutional Investors Weigh In On CostamareA number of large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Costamare by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,393 shares of the shipping company's stock worth $140,000 after acquiring an additional 1,148 shares during the last quarter. Rhumbline Advisers grew its holdings in Costamare by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 71,238 shares of the shipping company's stock worth $649,000 after acquiring an additional 2,145 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Costamare by 13.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company's stock worth $188,000 after acquiring an additional 2,267 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Costamare by 204.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock worth $63,000 after acquiring an additional 4,635 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Costamare by 12.2% in the 2nd quarter. Tidal Investments LLC now owns 50,700 shares of the shipping company's stock worth $462,000 after acquiring an additional 5,512 shares during the last quarter. Institutional investors own 58.08% of the company's stock. About Costamare (Get Free Report)Further ReadingFive stocks we like better than CostamareTSX Venture Exchange (Formerly Canadian Venture Exchange)Spotify Posts Huge EPS Beat: Shares Are Still Down Big From HighsWhat is the Euro STOXX 50 Index?Stardust's Strategic Lithium Deal Could Be a Game-ChangerInvesting in Construction StocksSticker Shock: Why Kimberly-Clark's Sell-Off Is an OverreactionThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Costamare Right Now?Before you consider Costamare, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Costamare wasn't on the list.While Costamare currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here