Brokerages expect Navios Maritime Partners L.P. (NYSE:NMM) to announce earnings of $0.06 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Navios Maritime Partners’ earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.08. Navios Maritime Partners reported earnings of $0.04 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings results on Tuesday, November 13th.
According to Zacks, analysts expect that Navios Maritime Partners will report full year earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.15 to $0.28. For the next fiscal year, analysts expect that the business will post earnings of $0.21 per share, with EPS estimates ranging from $0.05 to $0.43. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Navios Maritime Partners.
Several equities analysts have recently weighed in on NMM shares. Zacks Investment Research cut Navios Maritime Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine cut Navios Maritime Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Finally, JPMorgan Chase & Co. upgraded Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.26.
Several hedge funds and other institutional investors have recently made changes to their positions in NMM. Macquarie Group Ltd. grew its holdings in shares of Navios Maritime Partners by 128.7% in the 2nd quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 43,200 shares in the last quarter. Natixis grew its holdings in Navios Maritime Partners by 166.7% during the second quarter. Natixis now owns 160,000 shares of the shipping company’s stock worth $302,000 after purchasing an additional 100,000 shares during the period. Millennium Management LLC grew its holdings in Navios Maritime Partners by 982.2% during the first quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock worth $764,000 after purchasing an additional 385,048 shares during the period. UBS Group AG grew its holdings in Navios Maritime Partners by 34.7% during the first quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock worth $1,550,000 after purchasing an additional 222,001 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Navios Maritime Partners by 28.3% during the first quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock worth $2,536,000 after purchasing an additional 310,316 shares during the period. Institutional investors own 19.60% of the company’s stock.
Shares of NYSE NMM opened at $1.55 on Tuesday. The stock has a market capitalization of $268.14 million, a PE ratio of 9.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.92. Navios Maritime Partners has a fifty-two week low of $1.43 and a fifty-two week high of $2.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 5.16%. The ex-dividend date is Tuesday, November 6th. Navios Maritime Partners’s payout ratio is 50.00%.
About Navios Maritime Partners
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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