Navios Maritime Partners L.P. (NYSE:NMM) – Research analysts at Jefferies Financial Group cut their Q3 2018 earnings per share (EPS) estimates for shares of Navios Maritime Partners in a research report issued to clients and investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now anticipates that the shipping company will post earnings per share of $0.08 for the quarter, down from their prior estimate of $0.09. Jefferies Financial Group also issued estimates for Navios Maritime Partners’ FY2018 earnings at $0.28 EPS.
Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Wednesday, August 1st. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $58.20 million for the quarter, compared to analyst estimates of $57.07 million. Navios Maritime Partners had a positive return on equity of 3.98% and a negative net margin of 16.31%.
A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. upgraded Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a research report on Wednesday, October 17th. ValuEngine downgraded Navios Maritime Partners from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Finally, Zacks Investment Research downgraded Navios Maritime Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $2.26.
Shares of NMM stock opened at $1.61 on Wednesday. The firm has a market cap of $246.36 million, a P/E ratio of 10.06 and a beta of 1.61. Navios Maritime Partners has a twelve month low of $1.43 and a twelve month high of $2.62. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.92 and a current ratio of 1.92.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Tuesday, November 6th. Navios Maritime Partners’s payout ratio is presently 50.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in NMM. Renaissance Technologies LLC lifted its holdings in Navios Maritime Partners by 31.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock worth $4,460,000 after buying an additional 564,098 shares during the period. Evermore Global Advisors LLC lifted its holdings in Navios Maritime Partners by 4.9% during the 2nd quarter. Evermore Global Advisors LLC now owns 10,792,588 shares of the shipping company’s stock worth $20,398,000 after buying an additional 500,155 shares during the period. Millennium Management LLC lifted its holdings in Navios Maritime Partners by 982.2% during the 1st quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock worth $764,000 after buying an additional 385,048 shares during the period. JPMorgan Chase & Co. lifted its holdings in Navios Maritime Partners by 28.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock worth $2,536,000 after buying an additional 310,316 shares during the period. Finally, UBS Group AG lifted its holdings in Navios Maritime Partners by 34.7% during the 1st quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock worth $1,550,000 after buying an additional 222,001 shares during the period. 19.60% of the stock is currently owned by hedge funds and other institutional investors.
Navios Maritime Partners Company Profile
Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.
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