Has Navios Maritime Partners (NMM) Outpaced Other Transportation Stocks This Year?
For those looking to find strong Transportation stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Navios Maritime Partners LP (NMM) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.
Navios Maritime Partners LP is one of 143 individual stocks in the Transportation sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Navios Maritime Partners LP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NMM's full-year earnings has moved 7.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NMM has returned about 21.4% since the start of the calendar year. In comparison, Transportation companies have returned an average of -10.6%. This shows that Navios Maritime Partners LP is outperforming its peers so far this year.
Another stock in the Transportation sector, Scorpio Tankers (STNG), has outperformed the sector so far this year. The stock's year-to-date return is 212.5%.
In Scorpio Tankers' case, the consensus EPS estimate for the current year increased 175.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Navios Maritime Partners LP belongs to the Transportation - Shipping industry, a group that includes 46 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, this group has gained an average of 28.6% so far this year, meaning that NMM is slightly underperforming its industry in terms of year-to-date returns. Scorpio Tankers is also part of the same industry.
Navios Maritime Partners LP and Scorpio Tankers could continue their solid performance, so investors interested in Transportation stocks should continue to pay close attention to these stocks.
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