In the latest trading session, Costamare (CMRE) closed at $8.92, marking a -1.22% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the shipping company had lost 12.25% in the past month. In that same time, the Transportation sector lost 7.62%, while the S&P 500 lost 3.94%.
The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.48, marking a 23.81% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $412.67 million, down 13.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.52 per share and revenue of $1.74 billion, which would represent changes of -8.7% and -16.58%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Costamare. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Costamare is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Costamare is currently being traded at a Forward P/E ratio of 3.59. This indicates a discount in contrast to its industry's Forward P/E of 8.44.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 197, this industry ranks in the bottom 21% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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