Navios Maritime (NM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Navios Maritime (NYSE:NM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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. “

A number of other brokerages also recently commented on NM. Clarkson Capital downgraded shares of Navios Maritime from a buy rating to a neutral rating in a research report on Tuesday, October 17th. ValuEngine downgraded shares of Navios Maritime from a sell rating to a strong sell rating in a research report on Tuesday, November 14th. Finally, Jefferies Group assumed coverage on shares of Navios Maritime in a research report on Monday, December 18th. They issued a buy rating and a $2.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Navios Maritime has an average rating of Hold and an average price target of $1.58.

Navios Maritime (NYSE NM) remained flat at $$1.34 during trading on Tuesday. 606,709 shares of the company’s stock were exchanged, compared to its average volume of 704,400. The firm has a market cap of $156.61, a P/E ratio of -0.47 and a beta of 2.89. Navios Maritime has a twelve month low of $0.95 and a twelve month high of $2.26. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.02 and a quick ratio of 0.91.

Navios Maritime (NYSE:NM) last released its earnings results on Tuesday, November 21st. The shipping company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). Navios Maritime had a negative net margin of 21.39% and a negative return on equity of 17.18%. The business had revenue of $120.60 million during the quarter, compared to the consensus estimate of $138.00 million. During the same period last year, the business posted ($0.25) EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Navios Maritime by 2.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 881,941 shares of the shipping company’s stock worth $1,208,000 after buying an additional 23,789 shares during the last quarter. Apriem Advisors raised its stake in Navios Maritime by 53.8% in the 3rd quarter. Apriem Advisors now owns 100,000 shares of the shipping company’s stock worth $167,000 after purchasing an additional 35,000 shares in the last quarter. Advisor Group Inc. raised its stake in Navios Maritime by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 1,135,750 shares of the shipping company’s stock worth $1,555,000 after purchasing an additional 42,750 shares in the last quarter. Rhumbline Advisers acquired a new stake in Navios Maritime in the 2nd quarter worth about $107,000. Finally, New York State Common Retirement Fund acquired a new stake in Navios Maritime in the 2nd quarter worth about $131,000. Institutional investors own 19.71% of the company’s stock.

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Navios Maritime 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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