In the latest trading session, Costamare (CMRE) closed at $14.00, marking a +1.6% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.05%.
Shares of the shipping company have depreciated by 7.33% over the course of the past month, underperforming the Transportation sector's loss of 0.92%, and the S&P 500's gain of 0.97%.
The upcoming earnings release of Costamare will be of great interest to investors. The company is forecasted to report an EPS of $0.66, showcasing a 18.52% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $209 million, indicating a 8.49% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.53 per share and revenue of $833 million. These totals would mark changes of -18.91% and -24.26%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Costamare. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Costamare is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Costamare has a Forward P/E ratio of 5.45 right now. This denotes a discount relative to the industry average Forward P/E of 9.15.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 42, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Costamare Inc. (CMRE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).