Costamare (NYSE:CMRE) Announces Quarterly Earnings Results

Costamare (NYSE:CMRE) released its earnings results on Monday. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $196.24 million during the quarter, compared to analyst estimates of $193.16 million.

Costamare Price Performance

Shares of CMRE opened at $15.73 on Monday. Costamare has a twelve month low of $9.38 and a twelve month high of $18.06. The company has a 50 day moving average of $15.46 and a two-hundred day moving average of $16.31. The company has a quick ratio of 1.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 5.87 and a beta of 1.06.

Costamare Increases Dividend

The company 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 dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This is a positive change from Costamare’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a yield of 3.2%. Costamare’s dividend payout ratio is currently 18.66%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Costamare

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp grew its position in Costamare by 30.5% during the 4th quarter. Mackenzie Financial Corp now owns 79,199 shares of the shipping company’s stock worth $1,249,000 after purchasing an additional 18,512 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of 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 buying an additional 11,037 shares during the last quarter. VestGen Advisors LLC acquired a new position in shares of Costamare in the 4th quarter valued at $5,455,000. Susquehanna Fundamental Investments LLC purchased a new position in Costamare in the 4th quarter worth $1,185,000. Finally, Millennium Management LLC lifted its position in Costamare by 276.5% during the 4th 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 period. Institutional investors and hedge funds own 58.08% of the company’s stock.

About Costamare

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.