In the latest trading session, Costamare (CMRE) closed at $9.26, marking a -2.11% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.4% for the day. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq added 0.18%.
Prior to today's trading, shares of the shipping company had gained 3.05% lagged the Transportation sector's gain of 4.86% and the S&P 500's gain of 4.97%.
Analysts and investors alike will be keeping a close eye on the performance of Costamare in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.67, showcasing a 12.99% downward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $0 million, which would represent changes of +2.17% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Costamare is currently a Zacks Rank #3 (Hold).
Looking at valuation, Costamare is presently trading at a Forward P/E ratio of 3.35. This denotes a discount relative to the industry average Forward P/E of 9.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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