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NAP Stock Rose 12.0% after 3Q16 Results

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NAP released 3Q16 results

On October 26, 2016, Navios Maritime Midstream Partners (NAP) announced its 3Q16 revenue and earnings. Revenue fell 1.0% to $22.2 million compared to $22.5 million in the same period last year.

NAP’s 3Q16 EBITDA (earnings before interest, tax, depreciation, and amortization) was $15.7 million, which is 3.0% lower than 3Q15 EBITDA of $16.2 million.

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Actual versus estimates

NAP’s 3Q16 revenue was what Wall Street analysts had estimated. The company beat analysts’ EBITDA estimates. Actual EBITDA of $15.6 million was higher than the estimated $15.2 million.

Stock performance

Navios Maritime Midstream Partners stock rose to $12.52 on October 26, 2016. That was a rise of 12.0% from the previous day’s closing price. Below are the returns of other crude oil tanker stocks on October 26:

  • Teekay Tankers (TNK): fell 3.0%
  • Tsakos Energy Navigation (TNP): fell 3.0%
  • DHT Holdings (DHT): fell 3.0%
  • General Maritime Partners (GNRT): fell 2.0%
  • Euronav (EURN): fell 4.0%

Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA). SEA fell 1.0% on October 26. If you’re interested in a broad exposure to the industrials sector, you can invest in the SPDR Dow Jones Industrial Average ETF (DIA).

What you’ll find in this series 

In this series, we’ll look at NAP’s 3Q16 results and conference call highlights. We’ll also analyze the company’s current position, management’s future plans, and discussions between management and analysts to gauge the company’s future.

In the next part, we’ll start with NAP’s recent developments.

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