Costamare (NYSE:CMRE) Releases Earnings Results, Beats Expectations By $0.11 EPS
Costamare (NYSE:CMRE) reported quarterly earnings of $0.81 per share, exceeding analysts' expectations of $0.70 by $0.11. The company has a net margin of 17.10% and a return on equity of 13.67%. Additionally, Costamare declared a quarterly dividend of $0.115, with a yield of 3.5%. Analysts maintain a consensus rating of "Hold" for the stock, with a target price of $12.00. Institutional investors own 58.08% of the company, reflecting growing interest in its shares.
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 Announcement
The 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 Growth
Several 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 CMRE
Institutional Investors Weigh In On Costamare
A 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
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