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Costamare (CMRE) Stock Moves -0.63%: What You Should Know

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Zacks Equity Research
·2 min read
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Costamare (CMRE) closed at $6.34 in the latest trading session, marking a -0.63% move from the prior day. This change was narrower than the S&P 500's 2.81% loss on the day. Elsewhere, the Dow lost 2.94%, while the tech-heavy Nasdaq lost 3%.

Heading into today, shares of the shipping company had lost 19.85% over the past month, lagging the Transportation sector's loss of 10.16% and the S&P 500's loss of 3.97% in that time.

Wall Street will be looking for positivity from CMRE as it approaches its next earnings report date. The company is expected to report EPS of $0.30, up 150% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $128.08 million, up 13.37% from the prior-year quarter.

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.

Any recent changes to analyst estimates for CMRE should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CMRE currently has a Zacks Rank of #1 (Strong Buy).

In terms of valuation, CMRE is currently trading at a Forward P/E ratio of 6.08. This valuation marks a discount compared to its industry's average Forward P/E of 6.65.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 40% 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.

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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Costamare Inc. (CMRE) : Free Stock Analysis Report
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