The Chart of the Day belongs to the container shipping company Costamare (CMRE). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 4 /26 the stock gained 24.36%.
Costamare Inc. owns and operates containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 19, 2024, it had a fleet of fleet of 68 containerships and 37 dry bulk vessels. The company was founded in 1974 and is based in Monaco.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 82.49+ Weighted Alpha
- 69.17% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 20 new highs and up 35.27% in the last month
- Relative Strength Index 87.44%
- Technical support level at $14.45
- Recently traded at $14.65 with 50 day moving average of $11.80
Fundamental Factors:
- Market Cap $1.73 billion
- P/E 6.20
- Dividend yield 3.14%
- Revenue expected to decrease 9.00% this year and another 14.80% next year
- Earnings estimated to increase 48.30% this year, but decrease by 6.80% next year and continue to decrease at an annual rate of 24.40% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 1 strong buy, 2 buy and 5 hold recommendations
- Value Line has the stock rated its average rating of 3
- CFRAs MarketScope has a hold rating
- MorningStar gives the stock an above average 4 star rating with a Fair Value of $18.46 for about a 20% discount
- Only 8,940 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
