Costamare (CMRE) Stock Falls Amid Market Uptick: What Investors Need to Know

Costamare (CMRE) closed the latest trading day at $9.84, indicating a -1.2% change from the previous session's end. This change lagged the S&P 500's 0.55% gain on the day. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq depreciated by 0.14%.Shares of the shipping company witnessed a loss of 2.16% over the previous month, beating the performance of the Transportation sector with its loss of 7.37% and the S&P 500's loss of 6.22%.The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.48, reflecting a 23.81% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $412.67 million, down 13.2% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of $2.52 per share and a revenue of $1.74 billion, demonstrating changes of -8.7% and -16.58%, respectively, from the preceding 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.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, 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 remained unchanged. Costamare is currently sporting a Zacks Rank of #3 (Hold).From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 3.96. Its industry sports an average Forward P/E of 8.75, 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 bearing a Zacks Industry Rank of 155, finds itself in the bottom 39% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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