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

In the latest close session, Costamare (CMRE) was down 1.41% at $9.11. The stock fell short of the S&P 500, which registered a gain of 0.52% for the day. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 0.48%.

Shares of the shipping company witnessed a gain of 7.82% over the previous month, beating the performance of the Transportation sector with its gain of 1.8%, and the S&P 500's gain of 4.27%.

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The investment community will be closely monitoring the performance of Costamare in its forthcoming earnings report. In that report, analysts expect Costamare to post earnings of $0.67 per share. This would mark a year-over-year decline of 12.99%.

CMRE's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $0 million. These results would represent year-over-year changes of +2.17% and 0%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for Costamare. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. Currently, Costamare is carrying a Zacks Rank of #3 (Hold).

From a valuation perspective, Costamare is currently exchanging hands at a Forward P/E ratio of 3.28. This represents a discount compared to its industry average Forward P/E of 8.68.

The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Costamare Inc. (CMRE) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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