Costamare (CMRE) closed at $4.73 in the latest trading session, marking a -1.66% move from the prior day. This move lagged the S&P 500's daily loss of 0.94%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Coming into today, shares of the shipping company had lost 0.21% in the past month. In that same time, the Transportation sector gained 0.72%, while the S&P 500 gained 0.02%.
Investors will be hoping for strength from CMRE as it approaches its next earnings release. In that report, analysts expect CMRE to post earnings of $0.24 per share. This would mark year-over-year growth of 4.35%. Meanwhile, our latest consensus estimate is calling for revenue of $120.41 million, up 2.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.97 per share and revenue of $490.77 million, which would represent changes of +6.59% and +2.65%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CMRE. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CMRE is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, CMRE is currently trading at a Forward P/E ratio of 4.96. This valuation marks a premium compared to its industry's average Forward P/E of 4.67.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 231, which puts 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.
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