In This Article:
Costamare (CMRE) closed at $12.81 in the latest trading session, marking a -0.7% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.11%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.49%.
The shipping company's shares have seen a decrease of 3.08% over the last month, surpassing the Transportation sector's loss of 6.43% and falling behind the S&P 500's gain of 0.4%.
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 $0.71, indicating a 4.41% growth compared to the equivalent quarter last 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.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.79 per share and a revenue of $2.04 billion, representing changes of +34.78% and +34.75%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.24% fall in the Zacks Consensus EPS estimate. Costamare is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Costamare has a Forward P/E ratio of 4.62 right now. This expresses a discount compared to the average Forward P/E of 6.09 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 231, placing it within the bottom 8% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.