Costamare(CMRE)
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Costamare Inc. Announces 2025 Annual Meeting of Stockholders
GlobeNewswire· 2025-07-11 11:21
Group 1 - Costamare Inc. has announced an annual meeting of stockholders to be held virtually on October 2, 2025 [1] - Stockholders of record as of August 7, 2025, will be entitled to vote at the annual meeting [2] - Costamare Inc. is a leading owner and provider of containerships with a fleet of 68 containerships and a total capacity of approximately 513,000 TEU [3]
Costamare (CMRE) Stock Slides as Market Rises: Facts to Know Before You Trade
ZACKS· 2025-07-09 22:51
Core Viewpoint - Costamare's stock performance has shown mixed results recently, with a notable decline on the latest trading day while still outperforming the Transportation sector and S&P 500 over the past month [1][2]. Financial Performance - The upcoming earnings report for Costamare is projected to show an EPS of $0.67, reflecting a 12.99% decrease compared to the same quarter last year [2]. - For the full year, Zacks Consensus Estimates forecast earnings of $2.82 per share and revenue of $0 million, indicating changes of +2.17% and 0% respectively from the previous year [2]. Analyst Estimates - Recent changes to analyst estimates for Costamare are crucial for investors, as positive revisions indicate optimism regarding the company's business and profitability [3]. - The Zacks Rank system, which incorporates these estimate changes, currently assigns Costamare a rank of 3 (Hold), with no changes in the EPS estimate over the last 30 days [5]. Valuation Metrics - Costamare's Forward P/E ratio stands at 3.33, which is significantly lower than the industry average Forward P/E of 8.99, suggesting a valuation discount [6]. - The Transportation - Shipping industry, to which Costamare belongs, holds a Zacks Industry Rank of 24, placing it in the top 10% of over 250 industries [6][7].
Costamare: Cheap, Cash-Rich, And Still Dropping - What's Wrong Then?
Seeking Alpha· 2025-07-08 23:08
Group 1 - The article discusses the positive impact of Red Sea disruptions on Costamare's stock performance, which rallied following the initial analysis [1] - The author, Nikolaos Sismanis, has a background in Banking and Finance and over five years of experience as an equities analyst, focusing on growth and income stocks [1] - The investment service mentioned aims to provide a comprehensive platform for investment ideas, including macro portfolios for different types of investors and educational content [1]
Costamare (CMRE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
ZACKS· 2025-06-20 22:51
Company Performance - Costamare's stock closed at $9.19, reflecting a -3.97% change from the previous day's closing price, underperforming the S&P 500's daily loss of 0.22% [1] - Prior to the recent trading session, Costamare's shares had increased by 15.02%, outperforming the Transportation sector's loss of 2.83% and the S&P 500's gain of 0.45% [1] Earnings Expectations - The upcoming earnings report for Costamare is anticipated to show an EPS of $0.67, which is a decrease of 12.99% compared to the same quarter last year [2] - For the entire year, Zacks Consensus Estimates project earnings of $2.82 per share and revenue of $0 million, indicating a change of +2.17% for earnings and no change for revenue compared to the previous year [2] Analyst Forecasts - Investors should monitor any recent revisions to analyst forecasts for Costamare, as these changes often indicate shifts in near-term business trends [3] - Positive estimate revisions typically reflect analyst optimism regarding the company's business and profitability [3] Valuation Metrics - Costamare has a Forward P/E ratio of 3.39, which is significantly lower than the industry average Forward P/E of 9.62, indicating a valuation discount [6] - The Transportation - Shipping industry, to which Costamare belongs, currently holds a Zacks Industry Rank of 192, placing it in the bottom 22% of over 250 industries [6] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown a strong track record, with 1 ranked stocks yielding an average annual return of +25% since 1988 [5] - Costamare currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [5]
Costamare Bulkers: Interesting Opportunity, But Management Has To Perform For Long-Term Investment
Seeking Alpha· 2025-05-22 09:30
Group 1 - Costamare Bulkers Holdings Limited (NYSE: CMDB) is facing selling pressure due to Costamare (CMRE) shareholders' lack of interest in drybulk operations, leading to a significant decline in stock value [1] - The stock price has dropped to one third of its net asset value (NAV), indicating a substantial undervaluation in the market [1] Group 2 - The article highlights the diverse background of the author, emphasizing experience across various industries such as logistics, construction, and retail, which contributes to a comprehensive investment perspective [1] - The author has been actively investing for over a decade, focusing on cyclical industries and maintaining a diversified portfolio that includes bonds, commodities, and forex [1]
Costamare(CMRE) - 2025 Q1 - Earnings Call Transcript
2025-05-08 13:32
Financial Data and Key Metrics Changes - The company generated a net income of approximately €95,000,000 for the first quarter of 2025, translating to $0.79 per share, while the adjusted net income was €73,000,000 or $0.61 per share [3][6] - Liquidity stands above $1,000,000,000 [6] Business Line Data and Key Metrics Changes - The spin-off of Costamare Bulkers, which includes 37 owned dry bulk vessels, has been successfully completed, allowing both companies to pursue distinct strategic initiatives [3][4] - For the containership market, the fleet employment rate is at 73% for 2025 and 2026, with total contracted revenues amounting to €2,300,000,000 and a remaining time charter duration of approximately 3.3 years [4][7] - In the dry bulk sector, the Capesize market rebounded strongly in March, while Panamax activity increased post-Chinese New Year due to recovering grain flows [5] Market Data and Key Metrics Changes - The commercially idle fleet in the containership market remains below 1%, indicating a fully employed market [4] - Charter rates in the dry bulk market have recovered from their lows in February, with the order book at around 10% of the total fleet [10] Company Strategy and Development Direction - The spin-off is expected to unlock hidden value and better position both companies in their respective markets [3] - The company is focusing on acquiring larger vessels in the dry bulk sector, subject to market conditions [8] Management's Comments on Operating Environment and Future Outlook - Geopolitical challenges and economic uncertainties are impacting global trade, but demand for containership vessels has maintained momentum [4] - Proposed USTR fees may initially create inefficiencies but could also boost demand in the current strong market dynamics [10] Other Important Information - The company has refinanced its contingency vessel with no increased leverage and has no major maturities until 2027 [8] - Total investments and commitments for Neptune Multi Time Leasing exceed $530,000,000, indicating a healthy pipeline [5][9] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded without further inquiries [12][14]
Costamare(CMRE) - 2025 Q1 - Earnings Call Transcript
2025-05-08 13:30
Financial Data and Key Metrics Changes - The company generated a net income of approximately €95,000,000 for the first quarter, translating to $0.79 per share, while adjusted net income was €73,000,000 or $0.61 per share [3][6] - Liquidity stands above $1,000,000,000 [6] Business Line Data and Key Metrics Changes - The spin-off of Costamare Bulkers, which includes 37 owned dry bulk vessels, has been successfully completed, allowing both companies to pursue distinct strategic initiatives [3] - For the containership market, the fleet employment stands at 73% for 2025 and 2026, with total contracted revenues amounting to €2,300,000,000 and a remaining time charter duration of approximately 3.3 years [4][7] - In the drybulk sector, the Capesize market rebounded strongly in March, while Panamax activity increased post-Chinese New Year due to recovering grain flows [5] Market Data and Key Metrics Changes - The commercially idle fleet in the containership market remains below 1%, indicating a fully employed market [4] - Charter rates in the drybulk market have recovered from their lows in February, with the order book at around 10% of the total fleet [10] Company Strategy and Development Direction - The spin-off is expected to unlock hidden value and better position the two separate companies in their respective markets [3] - The company is focusing on acquiring larger vessels in the drybulk sector, subject to market conditions [8] Management's Comments on Operating Environment and Future Outlook - Geopolitical challenges and economic uncertainties are impacting global trade, yet demand for containership vessels has maintained momentum [4] - Proposed USTR fees may lead to fleet redeployments and network reorganizations, potentially creating inefficiencies that could boost demand [4][10] Other Important Information - The company has refinanced its contingency vessel with no increased leverage and has no major maturities until 2027 [8] - Total investments and commitments for Neptune Multi Time Leasing exceed $530,000,000, indicating a healthy pipeline [5][9] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded without further inquiries [11][12]
Costamare (CMRE) Q1 Earnings and Revenues Surpass Estimates
ZACKS· 2025-05-08 12:55
Core Viewpoint - Costamare reported quarterly earnings of $0.61 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, but down from $0.63 per share a year ago, indicating a 17.31% earnings surprise [1][2] Financial Performance - The company achieved revenues of $443.61 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.50%, although this is a decrease from $475.43 million in the same quarter last year [2] - Over the last four quarters, Costamare has consistently exceeded consensus EPS and revenue estimates [2] Stock Performance - Costamare shares have declined approximately 45.1% year-to-date, contrasting with the S&P 500's decline of 4.3% [3] - The stock currently holds a Zacks Rank of 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.59 on revenues of $426.85 million, and for the current fiscal year, it is $2.43 on revenues of $1.74 billion [7] - The trend of estimate revisions for Costamare has been unfavorable leading up to the earnings release [6] Industry Context - The Transportation - Shipping industry, to which Costamare belongs, is currently ranked in the bottom 11% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and earnings estimate revisions, which could impact Costamare's stock performance [5]
Costamare(CMRE) - 2025 Q1 - Earnings Call Presentation
2025-05-08 11:39
Financial Performance - Q1 2025 Net Income available to common stockholders was $95 million ($0.79 per share)[6] - Q1 2025 Adjusted Net Income available to common stockholders was $73.3 million ($0.61 per share)[6] - The company had a liquidity of $1,022.6 million, including margin deposits, short term investments, and a hunting license facility[6] Spin-off of Dry Bulk Business - The spin-off of the dry bulk business was completed on May 6, 2025, with a distribution ratio of one CMDB share for every five CMRE shares[11] - Following the spin-off, Costamare Bulkers Holdings Limited (CMDB) owns 37 dry bulk vessels with approximately $174.5 million in bank debt[11] Chartering and Fleet - 100% of the containership fleet is fixed for 2025, and 73% is fixed for 2026, calculated on a TEU basis[11] - Contracted revenues for the containership fleet are approximately $2.3 billion with a TEU-weighted duration of 3.3 years[11] - Costamare Bulkers Inc chartered-in 48 period vessels with a total capacity of approximately 7.9 million dwt[20] Sale and Purchase Activity - The sale of the dry bulk vessel Rose concluded in April 2025, generating net sale proceeds of $4.1 million after debt prepayment[13] - An agreement was made for the sale of the dry bulk vessel Resource, with estimated net sale proceeds of $3.3 million after debt prepayment, expected within Q2 2025[13] Debt and Financing - A new bilateral loan facility was established for approximately $23.5 million to refinance existing indebtedness of one container vessel[16] - Approximately $150.2 million of bank debt related to the dry bulk owned fleet was prepaid[16]
Costamare(CMRE) - 2025 Q1 - Quarterly Report
2025-05-08 10:53
EXHIBIT 99.1 Costamare Inc. Reports Results for the First Quarter Ended March 31, 2025 MONACO, May 08, 2025 (GLOBE NEWSWIRE) -- Costamare Inc. ("Costamare" or the "Company") (NYSE: CMRE) today reported unaudited financial results for the first quarter ended March 31, 2025 ("Q1 2025"). I. PROFITABILITY AND LIQUIDITY II. COMPLETION OF SPIN-OFF OF COSTAMARE'S DRY BULK BUSINESS As announced on May 7, 2025, the spin-off of Costamare's dry bulk business into a standalone public company (the "Spin-Off") was comple ...