Navios Maritime Partners (NYSE:NMM) Announces Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Navios Maritime Partners (NYSE:NMM) announced its earnings results on Tuesday. The shipping company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.28, Zacks reports. The company had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. Navios Maritime Partners had a return on equity of 9.24% and a net margin of 23.31%.Navios Maritime Partners’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $3.15 EPS.

Navios Maritime Partners Stock Down 0.8%

Shares of NYSE NMM opened at $52.88 on Wednesday. The business has a 50-day moving average of $47.43 and a two-hundred day moving average of $43.47. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 5.27 and a beta of 1.53. Navios Maritime Partners has a 1 year low of $28.37 and a 1 year high of $54.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.09 and a quick ratio of 1.09.

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Navios Maritime Partners’s payout ratio is 1.99%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new position in Navios Maritime Partners in the second quarter valued at approximately $212,000. BNP Paribas Financial Markets increased its position in shares of Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Navios Maritime Partners by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 380 shares during the last quarter. Jump Financial LLC purchased a new position in Navios Maritime Partners during the 2nd quarter worth approximately $580,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Navios Maritime Partners in the third quarter valued at approximately $639,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Navios Maritime Partners in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.