Costamare (CMRE) ended the recent trading session at $9.57, demonstrating a +1.92% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.47%. Meanwhile, the Dow experienced a rise of 1.39%, and the technology-dominated Nasdaq saw an increase of 1.51%.
Prior to today's trading, shares of the shipping company had lost 1.57% over the past month. This has was narrower than the Transportation sector's loss of 5.64% and lagged the S&P 500's loss of 0.47% in that time.
The upcoming earnings release of Costamare will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 17.46% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $412.67 million, down 13.2% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.43 per share and revenue of $1.74 billion, indicating changes of -11.96% and -16.58%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Costamare. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.38% lower within the past month. Currently, Costamare is carrying a Zacks Rank of #4 (Sell).
Investors should also note Costamare's current valuation metrics, including its Forward P/E ratio of 3.86. This represents a discount compared to its industry's average Forward P/E of 9.21.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 223, putting it in the bottom 10% 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.
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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