Costamare (CMRE) Laps the Stock Market: Here's Why

The latest trading session saw Costamare (CMRE) ending at $13.53, denoting a +0.67% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq added 0.76%.Heading into today, shares of the shipping company had lost 13.51% over the past month, lagging the Transportation sector's loss of 0.81% and the S&P 500's gain of 1.47% in that time.Market participants will be closely following the financial results of Costamare in its upcoming release. In that report, analysts expect Costamare to post earnings of $0.79 per share. This would mark year-over-year growth of 71.74%. Meanwhile, our latest consensus estimate is calling for revenue of $424.93 million, up 6.13% from the prior-year quarter.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.05 per share and revenue of $1.85 billion. These totals would mark changes of +47.34% and +22.32%, respectively, from last year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Costamare. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Costamare is carrying a Zacks Rank of #2 (Buy).Looking at its valuation, Costamare is holding a Forward P/E ratio of 4.41. Its industry sports an average Forward P/E of 7.66, so one might conclude that Costamare is trading at a discount comparatively.The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks