Heavy Early Morning Activity On Martin Midstream Partners (MMLP)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Martin Midstream Partners ( MMLP) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Martin Midstream Partners as such a stock due to the following factors:

  • MMLP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.4 million.
  • MMLP traded 62,290 shares today in the pre-market hours as of 9:12 AM, representing 24.3% of its average daily volume.

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More details on MMLP:

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The stock currently has a dividend yield of 8.3%. Currently there are 3 analysts that rate Martin Midstream Partners a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Martin Midstream Partners has been 148,400 shares per day over the past 30 days. Martin Midstream has a market cap of $1.2 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.74 and a short float of 1.7% with 1.15 days to cover. Shares are down 7.8% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Martin Midstream Partners as a hold. Among the primary strengths of the company is its revenue growth. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.

Highlights from the ratings report include:
  • The revenue growth came in higher than the industry average of 3.1%. Since the same quarter one year prior, revenues rose by 17.0%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • MARTIN MIDSTREAM PARTNERS LP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, MARTIN MIDSTREAM PARTNERS LP swung to a loss, reporting -$0.49 versus $1.33 in the prior year. This year, the market expects an improvement in earnings ($1.39 versus -$0.49).
  • The share price of MARTIN MIDSTREAM PARTNERS LP has not done very well: it is down 14.52% and has underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
  • Net operating cash flow has significantly decreased to -$15.58 million or 321.70% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 110.7% when compared to the same quarter one year ago, falling from $9.08 million to -$0.97 million.

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