Costamare (NYSE:CMRE) Issues Earnings Results

Costamare (NYSE:CMRE) released its quarterly earnings results on Wednesday. The shipping company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Up 0.4%

NYSE:CMRE 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 fifty day simple moving average is $14.96 and its two-hundred day simple moving average is $15.88. Costamare has a twelve month low of $11.91 and a twelve month high of $18.06.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend is Tuesday, October 20th.

Analyst Ratings Changes

CMRE has been the subject of a number of analyst reports. Zacks Research raised shares of Costamare to a “hold” rating in a research report on Tuesday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Costamare in a research report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, Costamare presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

About Costamare

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.