Yahoo Finance Costamare (CMRE) Outperforms Broader Market: What You Need to Know
The latest trading session saw Costamare (CMRE) ending at $17.19, denoting a +1.42% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.09%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, added 0.16%.
The shipping company's stock has climbed by 12.48% in the past month, exceeding the Transportation sector's loss of 2.02% and the S&P 500's gain of 2.83%.
The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. The company is expected to report EPS of $0.77, up 37.5% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $368.67 million, indicating a 0.34% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.08 per share and a revenue of $1.6 billion, demonstrating changes of +48.79% and +6.07%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Costamare. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Costamare boasts a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Costamare is currently being traded at a Forward P/E ratio of 5.51. This signifies a discount in comparison to the average Forward P/E of 7.63 for its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Costamare Inc. (CMRE) : Free Stock Analysis Report
