Costamare (CMRE) Increases Despite Market Slip: Here's What You Need to Know

Costamare (CMRE) closed at $10.45 in the latest trading session, marking a +1.55% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.The shipping company's shares have seen a decrease of 3.38% over the last month, surpassing the Transportation sector's loss of 7.7% and the S&P 500's loss of 7.03%.Investors will be eagerly watching for the performance of Costamare in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.48, showcasing a 23.81% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $412.67 million, reflecting a 13.2% fall from the equivalent quarter last year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.52 per share and revenue of $1.74 billion. These totals would mark changes of -8.7% and -16.58%, respectively, from last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Costamare. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Costamare is currently a Zacks Rank #3 (Hold).Looking at its valuation, Costamare is holding a Forward P/E ratio of 4.09. This represents a discount compared to its industry's average Forward P/E of 9.33.The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 206, this industry ranks in the bottom 18% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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