The latest trading session saw Costamare (CMRE) ending at $11.60, denoting a -0.85% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.92%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.03%.
The shipping company's shares have seen a decrease of 8.24% over the last month, not keeping up with the Transportation sector's gain of 5.3% and the S&P 500's gain of 0.81%.
Market participants will be closely following the financial results of Costamare in its upcoming release. It is anticipated that the company will report an EPS of $0.66, marking a 2.94% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $505.33 million, indicating a 2.12% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.94% lower. At present, Costamare boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Costamare is holding a Forward P/E ratio of 4.22. This indicates a discount in contrast to its industry's Forward P/E of 7.9.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 240, placing it within the bottom 5% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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