Navios Maritime Partners (NYSE:NMM) Announces Quarterly Earnings Results, Misses Estimates By $0.65 EPS

Navios Maritime Partners (NYSE:NMM) posted its quarterly earnings results on Tuesday. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65), Briefing.com reports. Navios Maritime Partners had a return on equity of 13.63% and a net margin of 30.28%. The company had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. During the same period in the prior year, the business earned $2.68 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

Navios Maritime Partners Stock Down 1.3 %

Navios Maritime Partners stock traded down $0.71 during trading on Wednesday, reaching $53.22. 208,468 shares of the company’s stock were exchanged, compared to its average volume of 179,556. The company’s 50-day moving average is $57.32 and its two-hundred day moving average is $51.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. Navios Maritime Partners has a 52-week low of $21.18 and a 52-week high of $65.89. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 4.10 and a beta of 1.99.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. Navios Maritime Partners’s payout ratio is 1.55%.

Analyst Ratings Changes

Several brokerages recently weighed in on NMM. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th.

Navios Maritime Partners Company Profile

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 liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.