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In the latest trading session, Costamare (CMRE) closed at $10.25, marking a +0.89% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.77%. Elsewhere, the Dow saw an upswing of 1.42%, while the tech-heavy Nasdaq appreciated by 2.28%.
The shipping company's stock has dropped by 2.96% in the past month, exceeding the Transportation sector's loss of 3.93% and the S&P 500's loss of 5.73%.
Analysts and investors alike will be keeping a close eye on the performance of Costamare in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.48, indicating a 23.81% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $412.67 million, showing a 13.2% drop compared to the year-ago quarter.
CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.52 per share and revenue of $1.74 billion. These results would represent year-over-year changes of -8.7% and -16.58%, respectively.
Investors might also notice recent changes to analyst estimates for Costamare. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Costamare currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Costamare currently has a Forward P/E ratio of 4.04. Its industry sports an average Forward P/E of 9.18, so one might conclude that Costamare is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 191, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.