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Costamare (CMRE) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Costamare (CMRE - Free Report) closed at $14.39, marking a -0.21% move from the previous day. This move lagged the S&P 500's daily loss of 0.11%.

Heading into today, shares of the shipping company had lost 8.56% over the past month, lagging the Transportation sector's gain of 5.53% and the S&P 500's gain of 4.61% in that time.

Wall Street will be looking for positivity from CMRE as it approaches its next earnings report date. On that day, CMRE is projected to report earnings of $0.63 per share, which would represent year-over-year growth of 186.36%. Our most recent consensus estimate is calling for quarterly revenue of $212.6 million, up 97.03% from the year-ago period.

CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.26 per share and revenue of $763.12 million. These results would represent year-over-year changes of +121.57% and +65.78%, respectively.

Investors should also note any 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CMRE is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, CMRE is currently trading at a Forward P/E ratio of 6.38. This valuation marks a premium compared to its industry's average Forward P/E of 4.74.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 53, putting it in the top 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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