Costamare (CMRE) Stock Sinks As Market Gains: What You Should Know

Costamare (CMRE) ended the recent trading session at $12.29, demonstrating a -1.68% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.26%. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.48%. Shares of the shipping company witnessed a gain of 9.27% over the previous month, beating the performance of the Transportation sector with its loss of 0.61%, and the S&P 500's gain of 2.87%.The upcoming earnings release of Costamare will be of great interest to investors. The company is expected to report EPS of $0.7, up 2.94% from the prior-year quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.75 per share and revenue of $0 million, indicating changes of -0.36% and 0%, respectively, compared to the previous year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Costamare currently has a Zacks Rank of #1 (Strong Buy). In terms of valuation, Costamare is currently trading at a Forward P/E ratio of 4.55. This represents a discount compared to its industry average Forward P/E of 11.29. The Transportation - Shipping industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 61, finds itself in the top 25% echelons of all 250+ industries. 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. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks