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Costamare (CMRE) ended the recent trading session at $12.60, demonstrating a -0.08% swing from the preceding day's closing price. This change lagged the S&P 500's 0.16% gain on the day. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq decreased by 0.06%.
Prior to today's trading, shares of the shipping company had lost 5.54% over the past month. This has was narrower than the Transportation sector's loss of 5.66% and lagged the S&P 500's loss of 2.8% in that time.
Investors will be eagerly watching for the performance of Costamare in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.71, indicating a 4.41% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $505.33 million, indicating a 2.12% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.74% lower. As of now, Costamare holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Costamare is holding a Forward P/E ratio of 4.46. This indicates a discount in contrast to its industry's Forward P/E of 7.16.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.