Navios Maritime Partners L.P. (NYSE:NMM) to Issue Quarterly Dividend of $0.05

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.05 per share by the shipping company on Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, November 12th.

Navios Maritime Partners has decreased its dividend by an average of 34.1% annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Navios Maritime Partners to earn $19.64 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.0%.

Navios Maritime Partners Price Performance

Shares of NYSE NMM traded up $0.67 during midday trading on Friday, reaching $54.02. 84,145 shares of the company traded hands, compared to its average volume of 178,427. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $1.62 billion, a PE ratio of 4.14 and a beta of 1.97. Navios Maritime Partners has a 12 month low of $21.18 and a 12 month high of $65.89. The stock’s 50-day simple moving average is $57.22 and its 200-day simple moving average is $51.07.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The business had revenue of $342.20 million during the quarter, compared to the consensus estimate of $312.39 million. During the same period in the previous year, the firm posted $3.32 earnings per share. Navios Maritime Partners’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Navios Maritime Partners will post 13.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NMM shares. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group raised their target price on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th.

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 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.