Shares of Navios Maritime Acquisition Co. (NYSE:NNA) traded down 3.9% during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $0.72 and last traded at $0.73. 688,206 shares were traded during mid-day trading, a decline of 15% from the average session volume of 810,482 shares. The stock had previously closed at $0.76.
The shipping company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $44.20 million for the quarter, compared to the consensus estimate of $53.63 million. Navios Maritime Acquisition had a negative net margin of 34.67% and a negative return on equity of 3.70%.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Thursday, March 22nd will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 11.77%. Navios Maritime Acquisition’s dividend payout ratio is presently -64.52%.
Navios Maritime Acquisition declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 7th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the shipping company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have issued reports on NNA. Zacks Investment Research upgraded Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a report on Thursday, December 28th. ValuEngine downgraded Navios Maritime Acquisition from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Stifel Nicolaus set a $2.00 price objective on Navios Maritime Acquisition and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Navios Maritime Acquisition in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $1.63.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Navios Maritime Acquisition by 2.3% in the fourth quarter. BlackRock Inc. now owns 3,985,852 shares of the shipping company’s stock worth $4,424,000 after purchasing an additional 90,608 shares in the last quarter. Northern Trust Corp raised its holdings in Navios Maritime Acquisition by 124.4% in the second quarter. Northern Trust Corp now owns 2,315,549 shares of the shipping company’s stock worth $3,404,000 after purchasing an additional 1,283,455 shares in the last quarter. Stifel Financial Corp raised its holdings in Navios Maritime Acquisition by 25.9% in the third quarter. Stifel Financial Corp now owns 1,410,486 shares of the shipping company’s stock worth $1,710,000 after purchasing an additional 290,552 shares in the last quarter. State Street Corp raised its holdings in Navios Maritime Acquisition by 6.4% in the second quarter. State Street Corp now owns 1,356,842 shares of the shipping company’s stock worth $1,992,000 after purchasing an additional 81,935 shares in the last quarter. Finally, Hosking Partners LLP raised its holdings in Navios Maritime Acquisition by 7.7% in the fourth quarter. Hosking Partners LLP now owns 1,350,945 shares of the shipping company’s stock worth $1,500,000 after purchasing an additional 96,166 shares in the last quarter. Institutional investors and hedge funds own 19.07% of the company’s stock.
The company has a debt-to-equity ratio of 2.12, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $102.23, a price-to-earnings ratio of -2.19 and a beta of 1.15.
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Navios Maritime Acquisition Company Profile
Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters.
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