Navios Maritime Partners (NYSE:NMM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a buy rating in a research note released on Tuesday morning.

Navios Maritime Partners Stock Up 0.0 %

Shares of NYSE NMM opened at $39.61 on Tuesday. Navios Maritime Partners has a 1 year low of $32.82 and a 1 year high of $65.89. The firm’s 50 day moving average price is $43.43 and its 200 day moving average price is $49.98. The firm has a market cap of $1.19 billion, a P/E ratio of 3.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $4.54 by ($1.93). The company had revenue of $302.99 million during the quarter, compared to analyst estimates of $340.83 million. Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. As a group, sell-side analysts anticipate that Navios Maritime Partners will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, February 10th. Navios Maritime Partners’s dividend payout ratio is presently 1.67%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Navios Maritime Partners by 21.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock worth $135,000 after acquiring an additional 384 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter worth about $204,000. Raymond James Financial Inc. bought a new stake in shares of Navios Maritime Partners during the 4th quarter worth about $219,000. First Trust Advisors LP raised its holdings in shares of Navios Maritime Partners by 23.7% in the 4th quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company’s stock worth $231,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Merrion Investment Management Co LLC raised its holdings in shares of Navios Maritime Partners by 56.9% in the 4th quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock worth $435,000 after purchasing an additional 3,640 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. 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.