Navios Maritime Partners LP (NMM) to Issue Quarterly Dividend of $0.06 on May 14th

Navios Maritime Partners LP (NYSE:NMM) announced a quarterly dividend on Tuesday, April 28th. Investors of record on Monday, May 11th will be given a dividend of 0.06 per share by the shipping company on Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 11th. This is a 20.0% increase from Navios Maritime Partners’s previous quarterly dividend of $0.05.

Navios Maritime Partners has decreased its dividend payment by an average of 0.2%per year over the last three years. Navios Maritime Partners has a payout ratio of 1.5% indicating that its dividend is sufficiently covered by earnings.

Navios Maritime Partners Stock Down 1.3%

Shares of NYSE:NMM opened at $70.93 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. Navios Maritime Partners has a 52-week low of $33.20 and a 52-week high of $74.21. The company has a 50 day moving average of $68.17 and a two-hundred day moving average of $58.51. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.38 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The company had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same quarter last year, the company earned $2.61 earnings per share. Navios Maritime Partners’s revenue for the quarter was up 10.0% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NMM. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $85.00.

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.