Equities research analysts predict that Navios Maritime Partners LP (NYSE:NMM) will announce $56.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Navios Maritime Partners’ earnings. The lowest sales estimate is $50.10 million and the highest is $60.67 million. Navios Maritime Partners reported sales of $49.67 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The company is expected to announce its next quarterly earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that Navios Maritime Partners will report full year sales of $56.15 million for the current financial year, with estimates ranging from $199.66 million to $213.05 million. For the next financial year, analysts forecast that the business will post sales of $226.50 million per share, with estimates ranging from $185.92 million to $276.18 million. Zacks’ sales averages are an average based on a survey of research firms that cover Navios Maritime Partners.
NMM has been the subject of several analyst reports. TheStreet upgraded shares of Navios Maritime Partners from a “d+” rating to a “c-” rating in a research note on Wednesday, November 15th. Stifel Nicolaus restated a “hold” rating and issued a $2.25 target price on shares of Navios Maritime Partners in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Friday, October 13th. Citigroup upped their target price on shares of Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Finally, Jefferies Group assumed coverage on shares of Navios Maritime Partners in a report on Monday, December 18th. They issued a “buy” rating and a $2.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Navios Maritime Partners has an average rating of “Hold” and a consensus target price of $2.19.
A number of institutional investors and hedge funds have recently bought and sold shares of NMM. JPMorgan Chase & Co. raised its holdings in Navios Maritime Partners by 17.6% in the third quarter. JPMorgan Chase & Co. now owns 1,516,136 shares of the shipping company’s stock valued at $3,184,000 after acquiring an additional 226,982 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Navios Maritime Partners in the third quarter valued at $320,000. Arrowstreet Capital Limited Partnership acquired a new stake in Navios Maritime Partners in the second quarter valued at $188,000. Sound Point Capital Management LP raised its holdings in Navios Maritime Partners by 7.7% in the second 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 in the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in Navios Maritime Partners by 1.5% in the second quarter. Virtu KCG Holdings LLC now owns 92,494 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 1,324 shares in the last quarter. 15.31% of the stock is currently owned by hedge funds and other institutional investors.
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Navios Maritime Partners Company Profile
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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