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Why the Market Dipped But Navios Maritime Partners LP (NMM) Gained Today
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In the latest market close, Navios Maritime Partners LP (NMM - Free Report) reached $44.09, with a +1.01% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Prior to today's trading, shares of the company had lost 14.06% over the past month. This has was narrower than the Transportation sector's loss of 19.69% and lagged the S&P 500's loss of 5.85% in that time.
The investment community will be paying close attention to the earnings performance of Navios Maritime Partners LP in its upcoming release. The company's upcoming EPS is projected at $2.90, signifying a 12.65% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $317.55 million, indicating an 8.47% decrease compared to the same quarter of the previous year.
NMM's full-year Zacks Consensus Estimates are calling for earnings of $14.69 per share and revenue of $1.34 billion. These results would represent year-over-year changes of +17.99% and +2.24%, respectively.
Investors should also note any recent changes to analyst estimates for Navios Maritime Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.36% lower. Navios Maritime Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Navios Maritime Partners LP is presently trading at a Forward P/E ratio of 2.97. This indicates a discount in contrast to its industry's Forward P/E of 7.65.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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Why the Market Dipped But Navios Maritime Partners LP (NMM) Gained Today
In the latest market close, Navios Maritime Partners LP (NMM - Free Report) reached $44.09, with a +1.01% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw a decrease of 1.05%.
Prior to today's trading, shares of the company had lost 14.06% over the past month. This has was narrower than the Transportation sector's loss of 19.69% and lagged the S&P 500's loss of 5.85% in that time.
The investment community will be paying close attention to the earnings performance of Navios Maritime Partners LP in its upcoming release. The company's upcoming EPS is projected at $2.90, signifying a 12.65% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $317.55 million, indicating an 8.47% decrease compared to the same quarter of the previous year.
NMM's full-year Zacks Consensus Estimates are calling for earnings of $14.69 per share and revenue of $1.34 billion. These results would represent year-over-year changes of +17.99% and +2.24%, respectively.
Investors should also note any recent changes to analyst estimates for Navios Maritime Partners LP. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.36% lower. Navios Maritime Partners LP is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Navios Maritime Partners LP is presently trading at a Forward P/E ratio of 2.97. This indicates a discount in contrast to its industry's Forward P/E of 7.65.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.