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

Costamare (NYSE:CMRE) announced its quarterly earnings data on Monday. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $196.24 million for the quarter, compared to the consensus estimate of $193.16 million.

Costamare Price Performance

Costamare stock opened at $15.73 on Monday. Costamare has a 1 year low of $9.38 and a 1 year high of $18.06. The firm has a 50 day moving average price of $15.46 and a 200 day moving average price of $16.31. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 5.87 and a beta of 1.06. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 21st will be given a $0.125 dividend. This is a boost from Costamare’s previous quarterly dividend of $0.12. 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. Costamare’s dividend payout ratio is 18.66%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Costamare

A number of hedge funds have recently made changes to their positions in CMRE. Mackenzie Financial Corp raised its position in shares of Costamare by 30.5% in the 4th quarter. Mackenzie Financial Corp now owns 79,199 shares of the shipping company’s stock worth $1,249,000 after buying an additional 18,512 shares during the period. Empowered Funds LLC grew its position in Costamare by 1.9% during the fourth quarter. Empowered Funds LLC now owns 599,006 shares of the shipping company’s stock valued at $9,458,000 after acquiring an additional 11,037 shares during the period. VestGen Advisors LLC purchased a new stake in Costamare during the fourth quarter valued at about $5,455,000. Susquehanna Fundamental Investments LLC acquired a new stake in Costamare during the fourth quarter worth about $1,185,000. Finally, Millennium Management LLC increased its stake in Costamare by 276.5% during the fourth quarter. Millennium Management LLC now owns 67,702 shares of the shipping company’s stock worth $1,069,000 after acquiring an additional 49,721 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

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.