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Costamare (CMRE) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Costamare (CMRE) closed at $12.23, marking a -1.13% move from the previous day. This move lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.

Prior to today's trading, shares of the shipping company had lost 0.48% over the past month. This has lagged the Transportation sector's gain of 3.04% and the S&P 500's gain of 4.4% in that time.

Costamare will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.98, up 262.96% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $275.2 million, up 130.99% from the year-ago period.

CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.43 per share and revenue of $780.65 million. These results would represent year-over-year changes of +138.24% and +69.59%, respectively.

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Any recent changes to analyst estimates for Costamare should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, the Zacks Consensus EPS estimate has moved 0.95% lower. Costamare currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Costamare is currently trading at a Forward P/E ratio of 5.1. Its industry sports an average Forward P/E of 3.88, so we one might conclude that Costamare is trading at a premium comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 91, putting it in the top 36% 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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