Costamare (CMRE) ended the recent trading session at $9.19, demonstrating a -3.97% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.22%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.51%.
Prior to today's trading, shares of the shipping company had gained 15.02% outpaced the Transportation sector's loss of 2.83% and the S&P 500's gain of 0.45%.
The investment community will be paying close attention to the earnings performance of Costamare in its upcoming release. The company is expected to report EPS of $0.67, down 12.99% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.82 per share and revenue of $0 million, indicating changes of +2.17% and 0%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Costamare is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Costamare is holding a Forward P/E ratio of 3.39. This valuation marks a discount compared to its industry average Forward P/E of 9.62.
The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 192, finds itself in the bottom 22% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Costamare Inc. (CMRE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
