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

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Zacks Equity Research
·3 min read
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Costamare (CMRE) closed at $4.06 in the latest trading session, marking a +1% move from the prior day. This move lagged the S&P 500's daily gain of 7.03%. At the same time, the Dow added 7.73%, and the tech-heavy Nasdaq gained 7.33%.

Coming into today, shares of the shipping company had lost 36.39% in the past month. In that same time, the Transportation sector lost 20.43%, while the S&P 500 lost 16.9%.

CMRE will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.30, up 150% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $128.08 million, up 13.37% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.05 per share and revenue of $507.24 million. These totals would mark changes of +15.38% and +6.09%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for CMRE. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. CMRE is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, CMRE is holding a Forward P/E ratio of 3.83. Its industry sports an average Forward P/E of 3.78, so we one might conclude that CMRE is trading at a premium comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 90, 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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