NYSE:CMRE

Stock Analysis Report

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Executive Summary

Costamare Inc. owns and charters containerships to liner companies worldwide. More Details


Snowflake Analysis

Moderate growth potential second-rate dividend payer.


Similar Companies

Share Price & News

How has Costamare's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CMRE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.4%

CMRE

-0.08%

US Shipping

-0.4%

US Market


1 Year Return

-6.5%

CMRE

-35.7%

US Shipping

18.3%

US Market

Return vs Industry: CMRE exceeded the US Shipping industry which returned -35.7% over the past year.

Return vs Market: CMRE underperformed the US Market which returned 18.3% over the past year.


Shareholder returns

CMREIndustryMarket
7 Day0.4%-0.08%-0.4%
30 Day34.7%14.8%6.6%
90 Day35.0%11.7%8.6%
1 Year-0.2%-6.5%-34.0%-35.7%21.0%18.3%
3 Year33.3%9.5%-20.6%-27.0%42.1%32.7%
5 Year-28.6%-50.9%-63.1%-67.1%85.6%64.7%

Price Volatility Vs. Market

How volatile is Costamare's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Costamare undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CMRE ($6.91) is trading below our estimate of fair value ($45.33)

Significantly Below Fair Value: CMRE is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CMRE is unprofitable, so we can't compare its PE Ratio to the US Shipping industry average.

PE vs Market: CMRE is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CMRE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CMRE is overvalued based on its PB Ratio (0.6x) compared to the US Shipping industry average (0.3x).


Next Steps

Future Growth

How is Costamare forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

96.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CMRE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: CMRE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CMRE's is expected to become profitable in the next 3 years.

Revenue vs Market: CMRE's revenue (5.7% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: CMRE's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CMRE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Costamare performed over the past 5 years?

-29.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CMRE is currently unprofitable.

Growing Profit Margin: CMRE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CMRE is unprofitable, and losses have increased over the past 5 years at a rate of 29% per year.

Accelerating Growth: Unable to compare CMRE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CMRE is unprofitable, making it difficult to compare its past year earnings growth to the Shipping industry (-5%).


Return on Equity

High ROE: CMRE has a negative Return on Equity (2.14%), as it is currently unprofitable.


Next Steps

Financial Health

How is Costamare's financial position?


Financial Position Analysis

Short Term Liabilities: CMRE's short term assets ($226.3M) do not cover its short term liabilities ($237.3M).

Long Term Liabilities: CMRE's short term assets ($226.3M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: CMRE's debt to equity ratio (101.9%) is considered high.

Reducing Debt: CMRE's debt to equity ratio has reduced from 160.2% to 101.9% over the past 5 years.

Debt Coverage: CMRE's debt is well covered by operating cash flow (20.9%).

Interest Coverage: CMRE is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Costamare current dividend yield, its reliability and sustainability?

5.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CMRE's dividend (5.79%) is higher than the bottom 25% of dividend payers in the US market (1.63%).

High Dividend: CMRE's dividend (5.79%) is in the top 25% of dividend payers in the US market (4.56%)


Stability and Growth of Payments

Stable Dividend: CMRE's dividend payments have been volatile in the past 10 years.

Growing Dividend: CMRE's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: CMRE is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: CMRE's dividends in 3 years are forecast to be well covered by earnings (24.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.8yrs

Average board tenure


CEO

Konstantinos Konstantakopoulos (51 yo)

no data

Tenure

Mr. Konstantinos Konstantakopoulos has been the Chairman and Chief Executive Officer of Costamare Partners GP LLC, the General Partner of Costamare Partners LP since August 04, 2014. Mr. Konstantakopoulos ...


Board Members

NamePositionTenureCompensationOwnership
Konstantinos Konstantakopoulos
Chairman & CEOno datano data28.8%
$ 240.2m
Gregory Zikos
CFO & Director10.75yrsno datano data
Charlotte Stratos
Independent Director10.75yrsno datano data
Konstantinos Zacharatos
Director12.75yrsno datano data
Vagn Møller
Independent Director10.75yrsno datano data

10.8yrs

Average Tenure

51yo

Average Age

Experienced Board: CMRE's board of directors are seasoned and experienced ( 10.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.


Top Shareholders

Company Information

Costamare Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Costamare Inc.
  • Ticker: CMRE
  • Exchange: NYSE
  • Founded: 1974
  • Industry: Marine
  • Sector: Transportation
  • Market Cap: US$834.171m
  • Shares outstanding: 120.72m
  • Website: https://www.costamare.com

Number of Employees


Location

  • Costamare Inc.
  • 7 Rue du Gabian
  • Monaco
  • 98000
  • Monaco

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CMRENYSE (New York Stock Exchange)YesCommon StockUSUSDNov 2010
LCMDB (Deutsche Boerse AG)YesCommon StockDEEURNov 2010
CMRE.PRBNYSE (New York Stock Exchange)PERP PFD SER BUSUSDAug 2013
CMRE.PRCNYSE (New York Stock Exchange)PERP PFD SER CUSUSDJan 2014
CMRE.PRDNYSE (New York Stock Exchange)PFD SER DUSUSDMay 2015
CMRE.PRENYSE (New York Stock Exchange)8.87% CUM PFD EUSUSDJan 2018

Biography

Costamare Inc. owns and charters containerships to liner companies worldwide. As of February 25, 2020, it had a fleet of 75 containerships with a total capacity of approximately 547,000 twenty foot equival ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 00:03
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.