Finance

Earnings Reaction History: Costamare Inc. (NYSE:CMRE) has a 71.43% chance to rise

Costamare Inc. (NYSE:CMRE) is projected to declare fiscal first quarter financial results right before the stock market’s official open on May 02, 2017. The stock added about 4.2 percent in price since last results when it was at $5.9 a share. Based on the most relevant past-periods data, there is an 71.43 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 15 times out of last 21 reported quarters. It has beaten earnings-per-share estimates 91% of the time in its last 12 earnings reports. It fell short of earnings estimates on 0 occasions, and it has met expectations 1 time.

Here’s how traders responded to CMRE earnings announcements over the past few quarters.

Costamare Inc. (CMRE) Earnings Surprises & Reaction

Given its history, the average earnings announcement surprise was 7.99 percent over the past four quarters. Back on January 26, 2017, it posted earnings per-share earnings at $0.28 which beat the consensus $0.24 projection (positive surprise of16.67%. For the quarter, revenue came in at 110.13M versus consensus estimate of 108.91M. The stock gained 1.86 percent the session following the earnings reports were released, and on 7th day price change was -6.95 percent.

On October 24, 2016, it reported earnings at $0.37 a share compared with the consensus estimate of $0.35 per share (positive surprise of 5.71%). Revenue of 118.26M for that quarter was above the $114.2M analysts had expected. The stock retreated -3.33% the day following the earnings announcement, and on 7th day price change was -13.33%.

On July 27, 2016, it recorded $0.42 a share in earnings which topped the consensus estimate of $0.41 (positive surprise of 2.44%). Revenue for the quarter was $119.53M while analysts called for revenues to be $119.37M. The stock gained 5.81% the day following the earnings data was made public, and on 7th day price change was -6.98%.

On April 20, 2016, it announced earnings per share at $0.45 versus the consensus estimate of $0.42 per share (positive surprise of 7.14%). That came on revenues of $120.27M for that period. Analysts had expected $118.88M in revenue.

Costamare Inc. Earnings Estimates

As Q1 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.23. The analysts’ present consensus range is $0.19-$0.26 for EPS. The market consensus range for revenue is between $103.99M and $107.8M, with an average of $105.58M.

Costamare Inc. (NYSE:CMRE) last ended at $6.35, sending the company’s market cap near $573.25M. The consensus 12-month price target from analysts covering the stock is $6.43. The share price has declined -36.89% from its top level in 52 weeks and dropped 15.27% this year. It recently traded in a range of $6.07-$6.38 at a volume of 793292 shares. The recent trading ended with the price nearly 0.79 higher for the last 5 trading days, rebounding 25.25% from its 52-week low.

 

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