Costamare (CMRE) Flat As Market Sinks: What You Should Know
In the latest market close, Costamare (CMRE) reached $15.47, with no movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.11%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw a decrease of 0.23%.
Coming into today, shares of the shipping company had gained 15.19% in the past month. In that same time, the Transportation sector lost 2.76%, while the S&P 500 gained 3.51%.
The investment community will be paying close attention to the earnings performance of Costamare in its upcoming release. The company's earnings per share (EPS) are projected to be $0.77, reflecting a 37.5% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $368.67 million, indicating a 0.34% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.08 per share and a revenue of $1.6 billion, demonstrating changes of +48.79% and +6.07%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.23% higher. Costamare currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 5.03. This signifies a discount in comparison to the average Forward P/E of 7.92 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Costamare Inc. (CMRE) : Free Stock Analysis Report