U.S. Markets closed
  • S&P 500

    3,768.25
    -27.29 (-0.72%)
     
  • Dow 30

    30,814.26
    -177.24 (-0.57%)
     
  • Nasdaq

    12,998.50
    -114.10 (-0.87%)
     
  • Russell 2000

    2,123.20
    -32.15 (-1.49%)
     
  • Crude Oil

    52.04
    -1.53 (-2.86%)
     
  • Gold

    1,827.70
    -23.70 (-1.28%)
     
  • Silver

    24.83
    -0.97 (-3.77%)
     
  • EUR/USD

    1.2085
    -0.0079 (-0.6526%)
     
  • 10-Yr Bond

    1.0970
    -0.0320 (-2.83%)
     
  • Vix

    24.34
    +1.09 (+4.69%)
     
  • GBP/USD

    1.3583
    -0.0057 (-0.4143%)
     
  • USD/JPY

    103.8000
    -0.0420 (-0.0404%)
     
  • BTC-USD

    37,292.46
    +1,186.61 (+3.29%)
     
  • CMC Crypto 200

    701.93
    -33.21 (-4.52%)
     
  • FTSE 100

    6,735.71
    -66.25 (-0.97%)
     
  • Nikkei 225

    28,519.18
    -179.12 (-0.62%)
     

Martin Midstream Partners L.P. (MMLP) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2 min read

Martin Midstream Partners L.P. (MMLP) closed at $1.60 in the latest trading session, marking a -1.23% move from the prior day. This change lagged the S&P 500's 0.57% gain on the day. Elsewhere, the Dow gained 1.44%, while the tech-heavy Nasdaq lost 0.61%.

Heading into today, shares of the company had lost 12.9% over the past month, lagging the Transportation sector's loss of 3.02% and the S&P 500's gain of 0.83% in that time.

Wall Street will be looking for positivity from MMLP as it approaches its next earnings report date. On that day, MMLP is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 88.24%.

Investors should also note any recent changes to analyst estimates for MMLP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MMLP currently has a Zacks Rank of #3 (Hold).

Digging into valuation, MMLP currently has a Forward P/E ratio of 18. This represents a premium compared to its industry's average Forward P/E of 7.92.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 13% 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.

To follow MMLP in the coming trading sessions, be sure to utilize Zacks.com.


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
 
Martin Midstream Partners L.P. (MMLP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.