Costamare (CMRE) Stock Slides as Market Rises: Facts to Know Before You Trade

Costamare (CMRE) closed the most recent trading day at $9.12, moving -2.88% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%. Shares of the shipping company have appreciated by 7.31% over the course of the past month, outperforming the Transportation sector's gain of 2.95%, and the S&P 500's gain of 3.85%.The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. The company's upcoming EPS is projected at $0.67, signifying a 12.99% drop compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates project earnings of $2.82 per share and a revenue of $0 million, demonstrating changes of +2.17% and 0%, respectively, from the preceding year. Any recent changes to analyst estimates for Costamare should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Costamare is currently sporting a Zacks Rank of #3 (Hold). Investors should also note Costamare's current valuation metrics, including its Forward P/E ratio of 3.33. This represents a discount compared to its industry average Forward P/E of 8.99. The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Should You Invest in Costamare Inc. (CMRE)?Before you invest in Costamare Inc. (CMRE), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want 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