Navios Maritime Partners L.P. (NMM) To Go Ex-Dividend on November 12th

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.05 per share by the shipping company on Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Tuesday, November 12th.

Navios Maritime Partners has decreased its dividend by an average of 34.1% per year over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Navios Maritime Partners to earn $19.64 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.0%.

Navios Maritime Partners Price Performance

NMM traded up $0.67 on Friday, reaching $54.02. The company had a trading volume of 84,145 shares, compared to its average volume of 178,427. The company has a market capitalization of $1.62 billion, a P/E ratio of 4.14 and a beta of 1.97. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $57.22 and a 200-day moving average of $51.07. Navios Maritime Partners has a one year low of $21.18 and a one year high of $65.89.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Tuesday, August 20th. The shipping company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The business had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. During the same quarter last year, the business earned $3.32 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Navios Maritime Partners will post 13.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NMM shares. Jefferies Financial Group raised their target price 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. StockNews.com upgraded 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.