Navios Maritime Partners (NYSE:NMM) Announces Quarterly Earnings Results, Misses Estimates By $0.65 EPS

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

Navios Maritime Partners Trading Down 1.3 %

Shares of NMM stock traded down $0.71 during mid-day trading on Wednesday, hitting $53.22. 208,468 shares of the company’s stock were exchanged, compared to its average volume of 179,556. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 4.10 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 has a fifty-two week low of $21.18 and a fifty-two week high of $65.89. The stock has a 50-day simple moving average of $57.32 and a two-hundred day simple moving average of $51.46.

Navios Maritime Partners Announces Dividend

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

Analyst Ratings Changes

NMM has been the subject of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock 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 research note on Wednesday, August 21st.

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 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.