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

Key Points

• Costamare beat quarterly expectations: The shipping company reported EPS of $0.62, topping the $0.57 consensus estimate, while revenue reached $196.24 million versus expectations of $193.16 million.
• Dividend increased: Costamare raised its quarterly dividend to $0.125 per share, or $0.50 annualized, representing a 3.2% yield and an 18.66% payout ratio.
• Analyst sentiment remains moderately positive: The stock carries a consensus “Moderate Buy” rating, though the average target price is $12.00; institutional investors own 58.08% of outstanding shares.

Costamare (NYSE:CMRE - Get Free Report) released its earnings results on Monday. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.05, FiscalAI reports. Costamare had a net margin of 39.93% and a return on equity of 16.42%. The company had revenue of $196.24 million for the quarter, compared to the consensus estimate of $193.16 million.

Costamare Stock Up 0.1%

Costamare stock opened at $15.73 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.92 and a current ratio of 1.96. The stock has a market cap of $1.89 billion, a PE ratio of 5.87 and a beta of 1.06. Costamare has a one year low of $9.38 and a one year high of $18.06. The stock has a fifty day moving average of $15.46 and a 200 day moving average of $16.31.

Costamare Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 21st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Costamare's previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, July 21st. Costamare's payout ratio is currently 18.66%.

Institutional Investors Weigh In On Costamare

A number of institutional investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC boosted its stake in Costamare by 2.1% during the third quarter. Bridgeway Capital Management LLC now owns 1,200,169 shares of the shipping company's stock valued at $14,294,000 after buying an additional 25,154 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Costamare by 113.5% in the fourth 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. increased its position in Costamare by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 828,789 shares of the shipping company's stock worth $9,871,000 after purchasing an additional 25,985 shares during the last quarter. Vanguard Group Inc. raised its stake in Costamare by 2.6% during the third 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 in the last quarter. Finally, Marshall Wace LLP lifted its position in Costamare by 1.0% during the third quarter. Marshall Wace LLP now owns 710,989 shares of the shipping company's stock valued at $8,468,000 after purchasing an additional 7,057 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

Wall Street Analysts Forecast Growth

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

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