Costamare (CMRE) Outpaces Stock Market Gains: What You Should Know
Costamare (CMRE) closed the most recent trading day at $14.65, moving +1.88% from the previous trading session.
In the latest trading session, Costamare (CMRE) closed at $14.65, marking a +1.88% move from the previous day. This change outpaced the S&P 500's 0.03% gain on the day.
Coming into today, shares of the shipping company had gained 30.73% in the past month. In that same time, the Transportation sector gained 1.33%, while the S&P 500 gained 3.02%.
Wall Street will be looking for positivity from CMRE as it approaches its next earnings report date. In that report, analysts expect CMRE to post earnings of $0.63 per share. This would mark year-over-year growth of 186.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $212.6 million, up 97.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $763.12 million, which would represent changes of +121.57% and +65.78%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CMRE. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CMRE currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, CMRE currently has a Forward P/E ratio of 6.36. For comparison, its industry has an average Forward P/E of 5.68, which means CMRE is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMRE in the coming trading sessions, be sure to utilize Zacks.com.
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Costamare Inc. (CMRE): Free Stock Analysis Report
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