Navios Maritime Partners (NYSE:NMM) Issues Earnings Results

Navios Maritime Partners (NYSE:NMM) released its quarterly earnings results on Tuesday. The shipping company reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.80 by ($0.65), Briefing.com reports. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The firm had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. During the same period in the previous year, the company earned $2.68 earnings per share. Navios Maritime Partners’s quarterly revenue was up 5.5% compared to the same quarter last year.

Navios Maritime Partners Price Performance

Shares of NYSE NMM traded down $1.04 during mid-day trading on Wednesday, reaching $52.89. The company’s stock had a trading volume of 140,134 shares, compared to its average volume of 179,253. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69. Navios Maritime Partners has a 52 week low of $21.18 and a 52 week high of $65.89. The stock has a fifty day moving average of $57.32 and a two-hundred day moving average of $51.46. The firm has a market capitalization of $1.58 billion, a PE ratio of 4.19 and a beta of 1.99.

Navios Maritime Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, November 12th. Navios Maritime Partners’s dividend payout ratio is currently 1.55%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NMM shares. Jefferies Financial Group boosted their price target on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

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 liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.