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Investors focused on the Transportation space have likely heard of Costamare (CMRE), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Costamare is one of 136 individual stocks in the Transportation sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CMRE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CMRE's full-year earnings has moved 7.62% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CMRE has moved about 85.02% on a year-to-date basis. At the same time, Transportation stocks have gained an average of 9.12%. As we can see, Costamare is performing better than its sector in the calendar year.
Looking more specifically, CMRE belongs to the Transportation - Shipping industry, which includes 42 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 68.69% so far this year, so CMRE is performing better in this area.
Going forward, investors interested in Transportation stocks should continue to pay close attention to CMRE as it looks to continue its solid performance.
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