Navios Maritime Acquisition Co. (NYSE:NNA) announced a quarterly dividend on Wednesday, February 7th, Zacks reports. Investors of record on Thursday, March 22nd will be given 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 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%.
NYSE NNA remained flat at $$0.80 during midday trading on Friday. The company’s stock had a trading volume of 387,821 shares, compared to its average volume of 471,670. The firm 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 has a 52-week low of $0.67 and a 52-week high of $1.75.
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 Thomson Reuters’ 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 company had revenue of $44.20 million during the quarter, compared to analyst estimates of $53.63 million. equities research analysts expect that Navios Maritime Acquisition will post -0.19 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on NNA shares. Zacks Investment Research raised Navios Maritime Acquisition from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 28th. ValuEngine upgraded Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase restated a “neutral” rating on shares of Navios Maritime Acquisition in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Navios Maritime Acquisition presently has an average rating of “Hold” and an average target price of $1.63.
An institutional investor recently raised its position in Navios Maritime Acquisition stock. Vanguard Group Inc. lifted its holdings in shares of Navios Maritime Acquisition Co. (NYSE:NNA) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,307 shares of the shipping company’s stock after purchasing an additional 3,730 shares during the period. Vanguard Group Inc. owned 0.11% of Navios Maritime Acquisition worth $242,000 at the end of the most recent reporting period. 20.52% of the stock is currently owned by institutional investors and hedge funds.
Navios Maritime Acquisition declared that its board has approved a share repurchase program 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. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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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