Martin Midstream Partners L.P. (MMLP) closed the most recent trading day at $2.01, moving -0.5% from the previous trading session. This move lagged the S&P 500's daily gain of 0.84%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 2.51%.
Prior to today's trading, shares of the company had lost 20.16% over the past month. This has lagged the Transportation sector's gain of 4.38% and the S&P 500's gain of 3.73% in that time.
MMLP will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2020. The company is expected to report EPS of -$0.13, up 51.85% from the prior-year quarter.
Any recent changes to analyst estimates for MMLP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 31.03% higher within the past month. MMLP is currently a Zacks Rank #1 (Strong Buy).
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 234, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow MMLP in the coming trading sessions, be sure to utilize Zacks.com.
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