Navios Maritime Partners LP (NMM) closed the most recent trading day at $37.60, moving -2.67% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%.
Prior to today's trading, shares of the company had gained 0.68% lagged the Transportation sector's gain of 2.95% and the S&P 500's gain of 3.85%.
The investment community will be closely monitoring the performance of Navios Maritime Partners LP in its forthcoming earnings report. The company is expected to report EPS of $1.86, down 39.22% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $309.58 million, indicating a 2.47% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.87 per share and revenue of $1.31 billion. These totals would mark changes of -2.42% and +6.79%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Navios Maritime Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Navios Maritime Partners LP possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Navios Maritime Partners LP is presently trading at a Forward P/E ratio of 3.55. This expresses a discount compared to the average Forward P/E of 8.99 of its industry.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% 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.
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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Navios Maritime Partners LP (NMM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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