Navios Maritime Acquisition Co. (NYSE:NNA) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Shareholders of record on Thursday, March 22nd will be paid a dividend of 0.02 per share by the shipping company on Tuesday, March 27th. This represents a $0.08 annualized dividend and a yield of 10.02%. The ex-dividend date of this dividend is Wednesday, March 21st.
Navios Maritime Acquisition has a payout ratio of -333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Navios Maritime Acquisition to earn $0.04 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 500.0%.
NNA stock remained flat at $$0.80 during midday trading on Friday. 387,821 shares of the company’s stock traded hands, compared to its average volume of 471,670. Navios Maritime Acquisition has a 52 week low of $0.67 and a 52 week high of $1.75. The stock has a market cap of $119.74, a PE ratio of -6.65 and a beta of 0.90. The company has a debt-to-equity ratio of 2.30, a current ratio of 3.13 and a quick ratio of 0.92.
Navios Maritime Acquisition (NYSE:NNA) last announced its quarterly earnings data on Wednesday, February 7th. The shipping company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). Navios Maritime Acquisition had a negative net margin of 34.67% and a negative return on equity of 3.81%. The firm had revenue of $44.20 million during the quarter, compared to analyst estimates of $53.63 million. sell-side analysts predict that Navios Maritime Acquisition will post -0.19 earnings per share for the current fiscal year.
Navios Maritime Acquisition announced that its Board of Directors has approved a stock buyback program on Wednesday, February 7th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the shipping company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have commented on NNA. Zacks Investment Research upgraded shares of Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. JPMorgan Chase restated a “neutral” rating on shares of Navios Maritime Acquisition in a research note on Friday, January 19th. Finally, ValuEngine downgraded shares of Navios Maritime Acquisition from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Navios Maritime Acquisition currently has a consensus rating of “Hold” and a consensus target price of $1.63.
A hedge fund recently raised its stake in Navios Maritime Acquisition stock. State Street Corp increased its stake in shares of Navios Maritime Acquisition Co. (NYSE:NNA) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,356,842 shares of the shipping company’s stock after buying an additional 81,935 shares during the period. State Street Corp owned about 0.90% of Navios Maritime Acquisition worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission. 20.52% of the stock is owned by institutional investors and hedge funds.
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About Navios Maritime Acquisition
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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