Navios Maritime Partners (NYSE:NMM) Announces Quarterly Earnings Results

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

Navios Maritime Partners Stock Down 1.9 %

Shares of NYSE NMM traded down $1.04 on Wednesday, reaching $52.89. 140,134 shares of the company’s stock traded hands, compared to its average volume of 179,253. Navios Maritime Partners has a 12 month low of $21.18 and a 12 month high of $65.89. The business’s 50 day simple moving average is $57.32 and its two-hundred day simple moving average is $51.46. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 4.19 and a beta of 1.99. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Navios Maritime Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

NMM has been the subject of several research reports. StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th.

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.