Martin Midstream Partners L.P. (MMLP - Free Report) closed at $1.37 in the latest trading session, marking a +1.48% move from the prior day. This move outpaced the S&P 500's daily loss of 1.76%. Elsewhere, the Dow lost 1.45%, while the tech-heavy Nasdaq lost 1.99%.
Heading into today, shares of the company had lost 26.63% over the past month, lagging the Transportation sector's gain of 6.33% and the S&P 500's gain of 1.56% in that time.
Investors will be hoping for strength from MMLP as it approaches its next earnings release. On that day, MMLP is projected to report earnings of -$0.30 per share, which would represent a year-over-year decline of 400%.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MMLP is currently sporting a Zacks Rank of #3 (Hold).
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.