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Costamare (CMRE) Stock Moves -0.23%: What You Should Know

Zacks Equity Research
·2-min read

Costamare (CMRE) closed at $8.78 in the latest trading session, marking a -0.23% move from the prior day. This change was narrower than the S&P 500's 0.65% loss on the day. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.03%.

Coming into today, shares of the shipping company had lost 21.29% in the past month. In that same time, the Transportation sector lost 14.3%, while the S&P 500 lost 11.07%.

Investors will be hoping for strength from Costamare as it approaches its next earnings release. The company is expected to report EPS of $0.93, up 40.91% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $278.87 million, up 28.97% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $1.11 billion, which would represent changes of +58.05% and +39.41%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for Costamare. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.41% lower. Costamare is currently a Zacks Rank #3 (Hold).

Digging into valuation, Costamare currently has a Forward P/E ratio of 2.36. Its industry sports an average Forward P/E of 3.03, so we one might conclude that Costamare is trading at a discount comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Zacks Investment Research