Costamare (CMRE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Costamare (CMRE) closed at $10.49, marking a +1.16% move from the previous day. This change outpaced the S&P 500's 1.04% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.52%.
Prior to today's trading, shares of the shipping company had gained 14.59% over the past month. This has outpaced the Transportation sector's gain of 5.25% and the S&P 500's loss of 0.15% in that time.
Wall Street will be looking for positivity from CMRE as it approaches its next earnings report date. On that day, CMRE is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 11.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $121.2 million, down 0.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.51 per share and revenue of $542.43 million. These totals would mark changes of +48.04% and +17.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CMRE. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, CMRE is holding a Forward P/E ratio of 6.87. This represents a discount compared to its industry's average Forward P/E of 6.89.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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