Navios Maritime Partners (NYSE:NMM) Price Target Raised to $80.00

Navios Maritime Partners (NYSE:NMM) had its price objective raised by Jefferies Financial Group from $65.00 to $80.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the shipping company’s stock.

Separately, StockNews.com raised shares of Navios Maritime Partners from a hold rating to a buy rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Stock Performance

Shares of NYSE:NMM opened at $57.10 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.89. Navios Maritime Partners has a 1 year low of $21.18 and a 1 year high of $58.22. The firm has a market capitalization of $1.72 billion, a PE ratio of 4.31 and a beta of 1.97. The business’s 50 day moving average price is $50.09 and its 200-day moving average price is $47.65.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.22. The company had revenue of $342.20 million for the quarter, compared to analysts’ expectations of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.32 EPS. As a group, equities research analysts expect that Navios Maritime Partners will post 14.8 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were given a dividend of $0.05 per share. The ex-dividend date was Friday, August 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. Navios Maritime Partners’s payout ratio is 1.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMM. BNP Paribas Financial Markets grew its position in Navios Maritime Partners by 30,700.0% in the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after acquiring an additional 1,228 shares during the period. Westhampton Capital LLC acquired a new stake in shares of Navios Maritime Partners during the 1st quarter worth about $241,000. Aristides Capital LLC acquired a new stake in shares of Navios Maritime Partners during the 1st quarter worth about $361,000. Tactive Advisors LLC purchased a new stake in Navios Maritime Partners in the 1st quarter valued at about $442,000. Finally, Virtu Financial LLC acquired a new position in Navios Maritime Partners in the first quarter valued at about $452,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.