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Navios Maritime Partners LP (NMM) Stock Falls Amid Market Uptick: What Investors Need to Know
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Navios Maritime Partners LP (NMM - Free Report) closed the most recent trading day at $46.19, moving -3.29% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.48%.
Prior to today's trading, shares of the company had gained 2.07% outpaced the Transportation sector's loss of 0.61% and lagged the S&P 500's gain of 2.87%.
Investors will be eagerly watching for the performance of Navios Maritime Partners LP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.95, signifying a 6.35% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $353.75 million, indicating a 15.65% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.99 per share and a revenue of $1.31 billion, signifying shifts of -10.32% and +6.79%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Navios Maritime Partners LP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Navios Maritime Partners LP boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Navios Maritime Partners LP is currently trading at a Forward P/E ratio of 4.78. For comparison, its industry has an average Forward P/E of 11.29, which means Navios Maritime Partners LP is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Navios Maritime Partners LP (NMM) Stock Falls Amid Market Uptick: What Investors Need to Know
Navios Maritime Partners LP (NMM - Free Report) closed the most recent trading day at $46.19, moving -3.29% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.48%.
Prior to today's trading, shares of the company had gained 2.07% outpaced the Transportation sector's loss of 0.61% and lagged the S&P 500's gain of 2.87%.
Investors will be eagerly watching for the performance of Navios Maritime Partners LP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.95, signifying a 6.35% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $353.75 million, indicating a 15.65% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.99 per share and a revenue of $1.31 billion, signifying shifts of -10.32% and +6.79%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Navios Maritime Partners LP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Navios Maritime Partners LP boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Navios Maritime Partners LP is currently trading at a Forward P/E ratio of 4.78. For comparison, its industry has an average Forward P/E of 11.29, which means Navios Maritime Partners LP is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.