Navios Maritime Holdings Inc. (NM) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Navios Maritime Holdings Inc. (NYSE:NM) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

Several other brokerages have also commented on NM. Clarkson Capital lowered Navios Maritime Holdings from a buy rating to a neutral rating in a report on Tuesday, October 17th. ValuEngine lowered Navios Maritime Holdings from a hold rating to a sell rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Navios Maritime Holdings currently has a consensus rating of Sell and a consensus target price of $1.25.

Navios Maritime Holdings (NM) traded up 2.82% on Wednesday, reaching $1.82. The company had a trading volume of 354,237 shares. The stock’s market capitalization is $211.21 million. The stock’s 50 day moving average is $1.73 and its 200-day moving average is $1.47. Navios Maritime Holdings has a 1-year low of $0.95 and a 1-year high of $2.40.

Navios Maritime Holdings (NYSE:NM) last issued its quarterly earnings data on Tuesday, August 22nd. The shipping company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Navios Maritime Holdings had a negative return on equity of 14.37% and a negative net margin of 22.05%. The company had revenue of $118.60 million for the quarter, compared to analyst estimates of $114.27 million. During the same period last year, the company earned ($0.29) earnings per share. Navios Maritime Holdings’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Navios Maritime Holdings will post ($0.94) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in shares of Navios Maritime Holdings in the second quarter valued at approximately $107,000. New York State Common Retirement Fund purchased a new position in shares of Navios Maritime Holdings in the second quarter valued at approximately $131,000. California State Teachers Retirement System purchased a new position in shares of Navios Maritime Holdings in the second quarter valued at approximately $218,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Navios Maritime Holdings in the second quarter valued at approximately $232,000. Finally, Vanguard Group Inc. purchased a new position in shares of Navios Maritime Holdings in the second quarter valued at approximately $248,000. Institutional investors and hedge funds own 21.08% of the company’s stock.

Navios Maritime Holdings Company Profile

Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.

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