Wall Street Zen downgraded shares of Navios Maritime Partners (NYSE:NMM – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.
Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.
Check Out Our Latest Stock Analysis on NMM
Navios Maritime Partners Price Performance
Navios Maritime Partners (NYSE:NMM – Get Free Report) last posted its quarterly earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.28. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The company had revenue of $346.92 million for the quarter, compared to the consensus estimate of $334.64 million. During the same quarter last year, the firm posted $3.15 earnings per share. Navios Maritime Partners’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts predict that Navios Maritime Partners will post 12.64 earnings per share for the current year.
Navios Maritime Partners Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio is 2.29%.
Institutional Investors Weigh In On Navios Maritime Partners
Institutional investors and hedge funds have recently modified their holdings of the stock. Ion Asset Management Ltd. grew its stake in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying an additional 17,285 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Navios Maritime Partners by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock worth $7,152,000 after acquiring an additional 2,045 shares during the period. ING Groep NV grew its position in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Navios Maritime Partners by 28.8% during the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after purchasing an additional 26,340 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
Navios Maritime Partners Company Profile
Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.
Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.
