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The most recent trading session ended with Costamare (CMRE) standing at $9.14, reflecting a -0.44% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.06% for the day. Meanwhile, the Dow experienced a rise of 0.28%, and the technology-dominated Nasdaq saw a decrease of 0.1%.
Shares of the shipping company have depreciated by 7.83% over the course of the past month, outperforming the Transportation sector's loss of 8.4% and lagging the S&P 500's loss of 4.29%.
The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 17.46% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $412.67 million, down 13.2% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.43 per share and a revenue of $1.74 billion, demonstrating changes of -11.96% and -16.58%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Costamare. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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, there's been a 3.38% fall in the Zacks Consensus EPS estimate. Costamare is currently a Zacks Rank #4 (Sell).
With respect to valuation, Costamare is currently being traded at a Forward P/E ratio of 3.78. This indicates a discount in contrast to its industry's Forward P/E of 9.64.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 233, finds itself in the bottom 7% echelons of all 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.