Costamare (NYSE:CMRE) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Costamare (NYSE:CMRE) released its quarterly earnings data on Wednesday. The shipping company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08, FiscalAI reports. The firm had revenue of $208.78 million for the quarter, compared to analyst estimates of $209.12 million.

Costamare Stock Performance

Shares of CMRE stock traded up $0.06 during mid-day trading on Wednesday, reaching $14.41. The company’s stock had a trading volume of 150,893 shares, compared to its average volume of 436,239. The company’s 50 day simple moving average is $14.96 and its 200-day simple moving average is $15.88. Costamare has a 12-month low of $11.91 and a 12-month high of $18.06.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Tuesday, October 20th will be paid a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, October 20th.

Analyst Upgrades and Downgrades

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

Costamare Company Profile

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.