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

Costamare (NYSE:CMRE) issued its quarterly earnings results on Wednesday. The shipping company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08, FiscalAI reports. The company had revenue of $208.78 million during the quarter, compared to analysts’ expectations of $209.12 million.

Costamare Stock Up 1.1%

NYSE CMRE traded up $0.17 during trading on Wednesday, hitting $14.52. The stock had a trading volume of 187,878 shares, compared to its average volume of 436,423. Costamare has a one year low of $11.91 and a one year high of $18.06. The stock has a 50 day simple moving average of $14.96 and a 200 day simple moving average of $15.88.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Investors of record on Tuesday, October 20th will be given a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, October 20th.

Analysts Set New Price Targets

Several equities analysts have recently commented on CMRE shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Costamare in a research report on Tuesday, August 18th. Zacks Research raised shares of Costamare to a “hold” rating in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Costamare currently has a consensus rating of “Moderate Buy” and an average price target 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.