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Costamare (CMRE) Gains But Lags Market: What You Should Know

Costamare (CMRE) closed the most recent trading day at $9.64, moving +0.73% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.65%. Meanwhile, the Dow gained 1.86%, and the Nasdaq, a tech-heavy index, added 0.24%.

Coming into today, shares of the shipping company had lost 7.36% in the past month. In that same time, the Transportation sector lost 11.29%, while the S&P 500 lost 8.99%.

Costamare will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.93, up 40.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $278.87 million, up 28.97% from the year-ago period.

CMRE's full-year Zacks Consensus Estimates are calling for earnings of $3.73 per share and revenue of $1.11 billion. These results would represent year-over-year changes of +58.05% and +39.41%, respectively.

Any recent changes to analyst estimates for Costamare should also be noted by investors. These revisions help to show the ever-changing nature of near-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.41% lower. Costamare is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Costamare is holding a Forward P/E ratio of 2.57. This represents a discount compared to its industry's average Forward P/E of 3.29.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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