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Costamare (CMRE) Stock Dips While Market Gains: Key Facts

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Costamare (CMRE - Free Report) ended the recent trading session at $15.42, demonstrating a -0.32% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.23%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 0.34%.

Shares of the shipping company have appreciated by 10.34% over the course of the past month, outperforming the Transportation sector's loss of 4.3% and the S&P 500's gain of 3.96%.

The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. In that report, analysts expect Costamare to post earnings of $0.77 per share. This would mark year-over-year growth of 37.5%. Simultaneously, our latest consensus estimate expects the revenue to be $368.67 million, showing a 0.34% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $3.08 per share and a revenue of $1.6 billion, demonstrating changes of +48.79% and +6.07%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Costamare. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Costamare is currently sporting a Zacks Rank of #1 (Strong Buy).

With respect to valuation, Costamare is currently being traded at a Forward P/E ratio of 5.03. For comparison, its industry has an average Forward P/E of 7.92, which means Costamare is trading at a discount to the group.

The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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