Costamare (CMRE) ended the recent trading session at $12.40, demonstrating a +1.47% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.95%.
The shipping company's shares have seen an increase of 3.91% over the last month, surpassing the Transportation sector's loss of 2.32% and the S&P 500's gain of 3.64%.
Analysts and investors alike will be keeping a close eye on the performance of Costamare in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.7, signifying a 2.94% increase compared to the same quarter of the previous 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.
Investors should also take note of any recent adjustments to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Costamare possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 4.44. For comparison, its industry has an average Forward P/E of 11.22, which means Costamare is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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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Costamare Inc. (CMRE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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