Costamare (CMRE) Outpaces Stock Market Gains: What You Should Know
Costamare (CMRE) closed the most recent trading day at $11.95, moving +1.79% from the previous trading session.
Costamare (CMRE) closed the most recent trading day at $11.95, moving +1.79% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.78%. Meanwhile, the Dow gained 1.61%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the shipping company had lost 4.24% over the past month, lagging the Transportation sector's loss of 3.91% and the S&P 500's loss of 2.63% in that time.
Wall Street will be looking for positivity from Costamare as it approaches its next earnings report date. In that report, analysts expect Costamare to post earnings of $0.98 per share. This would mark year-over-year growth of 262.96%. Our most recent consensus estimate is calling for quarterly revenue of $275.2 million, up 130.99% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.43 per share and revenue of $780.65 million, which would represent changes of +138.24% and +69.59%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.95% lower. Costamare currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Costamare currently has a Forward P/E ratio of 4.84. This valuation marks a premium compared to its industry's average Forward P/E of 3.69.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Costamare Inc. (CMRE): Free Stock Analysis Report
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