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Is Costamare (CMRE) Stock Outpacing Its Transportation Peers This Year?

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Zacks Equity Research
·2 min read
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For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. 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 one of 143 companies in the Transportation group. The Transportation group currently sits at #9 within 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CMRE is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CMRE's full-year earnings has moved 39.81% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CMRE has gained about 16.18% so far this year. Meanwhile, stocks in the Transportation group have gained about 10.65% on average. This shows that Costamare is outperforming its peers so far this year.

Breaking things down more, CMRE is a member of the Transportation - Shipping industry, which includes 45 individual companies and currently sits at #143 in the Zacks Industry Rank. Stocks in this group have gained about 34.53% so far this year, so CMRE is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Transportation stocks should continue to pay close attention to CMRE as it looks to continue its solid performance.


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Zacks Investment Research