Navios Maritime Partners L.P. (NMM) Expected to Announce Earnings of $0.08 Per Share

Equities research analysts expect that Navios Maritime Partners L.P. (NYSE:NMM) will post earnings per share of $0.08 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Navios Maritime Partners’ earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.04. Navios Maritime Partners posted earnings of $0.07 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The business is expected to issue its next quarterly earnings report on Monday, February 4th.

According to Zacks, analysts expect that Navios Maritime Partners will report full-year earnings of $0.23 per share for the current financial year, with EPS estimates ranging from $0.17 to $0.29. For the next financial year, analysts expect that the company will report earnings of $0.27 per share, with EPS estimates ranging from $0.10 to $0.43. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Navios Maritime Partners.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Tuesday, November 13th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $58.46 million. Navios Maritime Partners had a positive return on equity of 5.27% and a negative net margin of 15.62%.

NMM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Navios Maritime Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 1st. ValuEngine raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, JPMorgan Chase & Co. raised Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a research report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.27.

Several hedge funds have recently modified their holdings of NMM. Macquarie Group Ltd. increased its position in shares of Navios Maritime Partners by 128.7% during the second quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock worth $145,000 after purchasing an additional 43,200 shares in the last quarter. Natixis increased its position in shares of Navios Maritime Partners by 166.7% in the 2nd quarter. Natixis now owns 160,000 shares of the shipping company’s stock valued at $302,000 after acquiring an additional 100,000 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Navios Maritime Partners in the 3rd quarter valued at $526,000. Millennium Management LLC increased its position in shares of Navios Maritime Partners by 982.2% in the 1st quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock valued at $764,000 after acquiring an additional 385,048 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Navios Maritime Partners by 31.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock valued at $4,460,000 after acquiring an additional 564,098 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NMM stock traded down $0.02 during trading hours on Thursday, reaching $1.21. 784,303 shares of the company’s stock were exchanged, compared to its average volume of 803,564. The company has a market cap of $202.78 million, a PE ratio of 4.84 and a beta of 1.55. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.62. Navios Maritime Partners has a fifty-two week low of $1.16 and a fifty-two week high of $2.62.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Tuesday, November 6th. Navios Maritime Partners’s payout ratio is presently 50.00%.

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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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