In the latest close session, Costamare (CMRE) was up +2.44% at $12.60. The stock's change was more than the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.94%.
Prior to today's trading, shares of the shipping company had gained 10.71% outpaced the Transportation sector's loss of 0.44% and the S&P 500's gain of 2.32%.
Market participants will be closely following the financial results of Costamare in its upcoming release. The company's earnings per share (EPS) are projected to be $0.7, reflecting a 2.94% increase from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.75 per share and revenue of $0 million. These totals would mark changes of -0.36% and 0%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Costamare presently features a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 4.47. This expresses a discount compared to the average Forward P/E of 10.34 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 164, positioning it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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