Costamare (CMRE) closed at $11.09 in the latest trading session, marking a -1.68% move from the prior day. This change lagged the S&P 500's daily gain of 0.3%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Prior to today's trading, shares of the shipping company had lost 2.25% over the past month. This has was narrower than the Transportation sector's loss of 2.88% and the S&P 500's loss of 4.13% in that time.
Investors will be hoping for strength from Costamare as it approaches its next earnings release. In that report, analysts expect Costamare to post earnings of $0.92 per share. This would mark year-over-year growth of 39.39%. Meanwhile, our latest consensus estimate is calling for revenue of $278.87 million, up 28.97% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.87 per share and revenue of $1.11 billion, which would represent changes of +63.98% and +39.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Costamare should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Costamare currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Costamare is holding a Forward P/E ratio of 2.91. This valuation marks a discount compared to its industry's average Forward P/E of 3.42.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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