Equities research analysts expect Navios Maritime Partners LP (NYSE:NMM) to report $59.43 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Navios Maritime Partners’ earnings. The lowest sales estimate is $55.75 million and the highest is $65.43 million. Navios Maritime Partners posted sales of $50.34 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.1%. The business is scheduled to issue its next earnings results on Monday, November 13th.
According to Zacks, analysts expect that Navios Maritime Partners will report full-year sales of $59.43 million for the current financial year, with estimates ranging from $202.18 million to $229.30 million. For the next year, analysts expect that the company will report sales of $256.01 million per share, with estimates ranging from $230.46 million to $279.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Navios Maritime Partners.
Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, July 27th. The shipping company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Navios Maritime Partners had a positive return on equity of 2.60% and a negative net margin of 19.50%. The company had revenue of $50.02 million for the quarter, compared to the consensus estimate of $44.37 million. During the same quarter last year, the business posted $0.05 EPS. Navios Maritime Partners’s quarterly revenue was up 11.5% compared to the same quarter last year.
A number of research firms have weighed in on NMM. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.25 price objective on shares of Navios Maritime Partners in a report on Friday, September 1st. Zacks Investment Research raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, BidaskClub raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Navios Maritime Partners presently has an average rating of “Hold” and a consensus target price of $2.17.
Navios Maritime Partners (NYSE:NMM) opened at 2.06 on Friday. The firm’s 50-day moving average price is $2.09 and its 200-day moving average price is $1.86. The company’s market cap is $309.92 million. Navios Maritime Partners has a 12-month low of $1.15 and a 12-month high of $2.94.
A number of hedge funds have recently bought and sold shares of NMM. Renaissance Technologies LLC raised its position in shares of Navios Maritime Partners by 905.0% during the 1st quarter. Renaissance Technologies LLC now owns 776,808 shares of the shipping company’s stock valued at $1,608,000 after acquiring an additional 699,514 shares during the last quarter. Sound Point Capital Management LP raised its position in shares of Navios Maritime Partners by 7.7% during the 2nd quarter. Sound Point Capital Management LP now owns 1,094,891 shares of the shipping company’s stock valued at $1,741,000 after acquiring an additional 78,743 shares during the last quarter. Credit Suisse AG bought a new stake in shares of Navios Maritime Partners during the 1st quarter valued at $1,780,000. Evermore Global Advisors LLC raised its position in shares of Navios Maritime Partners by 19.8% during the 2nd quarter. Evermore Global Advisors LLC now owns 7,134,433 shares of the shipping company’s stock valued at $11,344,000 after acquiring an additional 1,177,833 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 182.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,501,072 shares of the shipping company’s stock valued at $3,108,000 after acquiring an additional 970,357 shares during the last quarter. Hedge funds and other institutional investors own 17.12% of the company’s stock.
About Navios Maritime Partners
Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.
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