Navios Maritime Partners LP (NMM) Expected to Post Earnings of $0.02 Per Share

Analysts forecast that Navios Maritime Partners LP (NYSE:NMM) will announce earnings per share of $0.02 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Navios Maritime Partners’ earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.04. Navios Maritime Partners posted earnings per share of $0.07 in the same quarter last year, which would indicate a negative year over year growth rate of 71.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 13th.

According to Zacks, analysts expect that Navios Maritime Partners will report full-year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.10 to $0.15. For the next financial year, analysts expect that the company will report earnings of $0.14 per share, with EPS estimates ranging from $0.10 to $0.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Navios Maritime Partners.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly 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. The firm had revenue of $50.02 million during the quarter, compared to analysts’ expectations of $44.37 million. Navios Maritime Partners had a negative net margin of 19.50% and a positive return on equity of 2.60%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share.

Several analysts recently issued reports on NMM shares. Zacks Investment Research upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Friday, October 13th. Stifel Nicolaus reiterated a “hold” rating and set a $2.25 price target on shares of Navios Maritime Partners in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of Navios Maritime Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.19.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sound Point Capital Management LP boosted 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 worth $1,741,000 after acquiring an additional 78,743 shares in the last quarter. Renaissance Technologies LLC boosted 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 worth $1,608,000 after acquiring an additional 699,514 shares in the last quarter. Credit Suisse AG acquired a new stake in shares of Navios Maritime Partners during the 1st quarter worth approximately $1,780,000. Evermore Global Advisors LLC boosted 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 worth $11,344,000 after acquiring an additional 1,177,833 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted 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 worth $3,108,000 after acquiring an additional 970,357 shares in the last quarter. Institutional investors and hedge funds own 17.09% of the company’s stock.

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Shares of Navios Maritime Partners (NYSE:NMM) traded up 0.98% on Monday, reaching $2.06. 157,389 shares of the company’s stock were exchanged. Navios Maritime Partners has a 12 month low of $1.15 and a 12 month high of $2.94. The company’s market cap is $309.92 million. The firm’s 50-day moving average price is $2.10 and its 200 day moving average price is $1.86.

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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