Is Costamare (CMRE) Stock Outpacing Its Transportation Peers This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Costamare (CMRE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Costamare is a member of the Transportation sector. This group includes 132 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Costamare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CMRE's full-year earnings has moved 11.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CMRE has moved about 53.8% on a year-to-date basis. In comparison, Transportation companies have returned an average of -2%. As we can see, Costamare is performing better than its sector in the calendar year.
Despegar.com (DESP) is another Transportation stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 59.6%.
In Despegar.com's case, the consensus EPS estimate for the current year increased 24.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Costamare belongs to the Transportation - Shipping industry, a group that includes 38 individual companies and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have gained about 24% so far this year, so CMRE is performing better this group in terms of year-to-date returns.
Despegar.com, however, belongs to the Transportation - Services industry. Currently, this 26-stock industry is ranked #215. The industry has moved -6.7% so far this year.
Investors with an interest in Transportation stocks should continue to track Costamare and Despegar.com. These stocks will be looking to continue their solid performance.
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Costamare Inc. (CMRE) : Free Stock Analysis Report
Despegar.com Corp. (DESP) : Free Stock Analysis Report