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Costamare (CMRE) Stock Dips While Market Gains: Key Facts
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In the latest trading session, Costamare (CMRE - Free Report) closed at $11.76, marking a -1.42% move from the previous day. This change lagged the S&P 500's daily gain of 0.37%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 0.71%.
The shipping company's stock has dropped by 1.24% in the past month, falling short of the Transportation sector's gain of 1.91% and the S&P 500's gain of 4.26%.
The investment community will be paying close attention to the earnings performance of Costamare in its upcoming release. The company is expected to report EPS of $0.7, up 2.94% from the prior-year quarter.
CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.75 per share and revenue of $0 million. These results would represent year-over-year changes of -0.36% and 0%, respectively.
It is also important to note the recent changes to analyst estimates for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Costamare possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Costamare is at present trading with a Forward P/E ratio of 4.34. Its industry sports an average Forward P/E of 11.42, so one might conclude that Costamare is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Costamare (CMRE) Stock Dips While Market Gains: Key Facts
In the latest trading session, Costamare (CMRE - Free Report) closed at $11.76, marking a -1.42% move from the previous day. This change lagged the S&P 500's daily gain of 0.37%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 0.71%.
The shipping company's stock has dropped by 1.24% in the past month, falling short of the Transportation sector's gain of 1.91% and the S&P 500's gain of 4.26%.
The investment community will be paying close attention to the earnings performance of Costamare in its upcoming release. The company is expected to report EPS of $0.7, up 2.94% from the prior-year quarter.
CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.75 per share and revenue of $0 million. These results would represent year-over-year changes of -0.36% and 0%, respectively.
It is also important to note the recent changes to analyst estimates for Costamare. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Costamare possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Costamare is at present trading with a Forward P/E ratio of 4.34. Its industry sports an average Forward P/E of 11.42, so one might conclude that Costamare is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.