Costamare (CMRE) Beats Market Returns: Some Facts to Consider

The most recent trading session ended with Costamare (CMRE – Free Report) settling at $16.20, reflecting a +1.19% variance from the previous trading day’s close. The stock outperformed the S&P 500, which posted a daily gain of 0.11%. At the same time, the Dow Jones lost 0.3% and the technology-heavy Nasdaq gained 0.56%.

Today, shares of the shipping company have gained 28.28% over the past month. At the same time, the Transportation sector gained 0.96%, while the S&P 500 gained 5.06%.

Investors will be eagerly watching Costamare’s performance when it next releases its results. The company is expected to report EPS of $0.77, an increase of 37.5% from the same quarter a year ago. Meanwhile, our most recent consensus estimate is calling for revenue of $368.67 million, indicating an increase of 0.34% from the same quarter last year.

For the annual period, Zacks Consensus Estimates are projecting earnings of $3.08 per share and revenue of $1.6 billion, implying changes of +48.79% and +6.07 %, respectively, compared to last year.

It’s also important to note the recent changes to analyst estimates for Costamare. Such recent changes usually signify a changing landscape of short-term business trends. Therefore, upward estimate revisions express analysts’ positivity towards the company’s business operations and its ability to generate earnings.

Our research shows that these estimate changes are directly correlated to near-term stock prices. To take advantage of this, we have created the Zacks Rank, a unique model that incorporates these estimate changes and provides a convenient rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of beating expectations, as confirmed by external audits, with #1 stocks delivering annual returns. average of +25%. since 1988. Over the past 30 days, our consensus EPS forecast has moved 12.23% higher. Costamare currently sports a Zacks Rank of #2 (Buy).

In terms of valuation, Costamare is currently trading at a forward P/E ratio of 5.21. This represents a discount to its industry’s average Forward P/E of 8.56.

The Transportation – Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 36% of all industries, or 250+.

The Zacks Industry Rank gauges the strength of our specific industry groups by calculating the average Zacks Rank of the individual stocks incorporated within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all of these stock-moving metrics, and more, throughout the coming trading sessions.

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