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Why the Market Dipped But Costamare (CMRE) Gained Today September 18, 2024
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Costamare (CMRE - Free Report) ended the recent trading session at $13.91, demonstrating a +0.94% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.31%.
The the stock of shipping company has fallen by 0.58% in the past month, lagging the Transportation sector's gain of 4.32% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.79, marking a 71.74% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $424.93 million, reflecting a 6.13% rise from the equivalent quarter last year.
CMRE's full-year Zacks Consensus Estimates are calling for earnings of $3.05 per share and revenue of $1.85 billion. These results would represent year-over-year changes of +47.34% and +22.32%, respectively.
Investors might also notice recent changes to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Costamare is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 4.53. This represents a discount compared to its industry's average Forward P/E of 7.04.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 143, this industry ranks in the bottom 44% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Costamare (CMRE - Free Report) ended the recent trading session at $13.91, demonstrating a +0.94% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.31%.
The the stock of shipping company has fallen by 0.58% in the past month, lagging the Transportation sector's gain of 4.32% and the S&P 500's gain of 1.57%.
The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.79, marking a 71.74% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $424.93 million, reflecting a 6.13% rise from the equivalent quarter last year.
CMRE's full-year Zacks Consensus Estimates are calling for earnings of $3.05 per share and revenue of $1.85 billion. These results would represent year-over-year changes of +47.34% and +22.32%, respectively.
Investors might also notice recent changes to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Costamare is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 4.53. This represents a discount compared to its industry's average Forward P/E of 7.04.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 143, this industry ranks in the bottom 44% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.