Is Costamare (CMRE) Stock Outpacing Its Transportation Peers This Year?
Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Is Costamare (CMRE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Costamare is a member of our Transportation group, which includes 136 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CMRE is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CMRE's full-year earnings has moved 25.56% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CMRE has moved about 30.43% on a year-to-date basis. Meanwhile, the Transportation sector has returned an average of 5.91% on a year-to-date basis. This means that Costamare is outperforming the sector as a whole this year.
Looking more specifically, CMRE belongs to the Transportation - Shipping industry, a group that includes 42 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has gained an average of 42.78% so far this year, meaning that CMRE is slightly underperforming its industry in terms of year-to-date returns.
CMRE will likely be looking to continue its solid performance, so investors interested in Transportation stocks should continue to pay close attention to the company.
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