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In the latest market close, Costamare (CMRE) reached $12.77, with a +0.79% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.12%. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq decreased by 0.23%.
Prior to today's trading, shares of the shipping company had lost 0.16% over the past month. This has was narrower than the Transportation sector's loss of 3.98% and the S&P 500's loss of 3.45% in that time.
The investment community will be paying close attention to the earnings performance of Costamare in its upcoming release. The company is forecasted to report an EPS of $0.71, showcasing a 4.41% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $505.33 million, indicating a 2.12% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.74% lower. Costamare is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Costamare is presently being traded at a Forward P/E ratio of 4.48. This valuation marks a discount compared to its industry's average Forward P/E of 8.08.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 242, finds itself in the bottom 4% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.