Martin Midstream Partners L.P. (MMLP) Stock Moves -0.6%: What You Should Know
In the latest trading session, Martin Midstream Partners L.P. (MMLP) closed at $1.67, marking a -0.6% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.66%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.8%.
Prior to today's trading, shares of the company had gained 34.4% over the past month. This has outpaced the Transportation sector's gain of 3.84% and the S&P 500's gain of 5.22% in that time.
Wall Street will be looking for positivity from MMLP as it approaches its next earnings report date. This is expected to be October 21, 2020. The company is expected to report EPS of -$0.30, down 400% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for MMLP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MMLP currently has 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 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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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Martin Midstream Partners L.P. (MMLP): Free Stock Analysis Report
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