Navios Maritime Partners (NYSE:NMM) Sets New 52-Week High – Time to Buy?

Navios Maritime Partners LP (NYSE:NMM)’s stock price reached a new 52-week high on Thursday . The company traded as high as $56.67 and last traded at $55.9510, with a volume of 68596 shares. The stock had previously closed at $55.44.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NMM shares. Weiss Ratings restated a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Navios Maritime Partners Price Performance

The company has a market cap of $1.67 billion, a price-to-earnings ratio of 6.43 and a beta of 1.34. The stock has a 50 day simple moving average of $51.96 and a two-hundred day simple moving average of $46.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.28. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The firm had revenue of $346.92 million during the quarter, compared to analyst estimates of $334.64 million. During the same quarter in the prior year, the firm posted $3.15 earnings per share. Navios Maritime Partners’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a $0.05 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. Navios Maritime Partners’s dividend payout ratio is currently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter worth about $47,000. TD Waterhouse Canada Inc. purchased a new position in Navios Maritime Partners during the second quarter worth about $62,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners during the second quarter valued at about $212,000. Aristides Capital LLC purchased a new stake in shares of Navios Maritime Partners in the 2nd quarter valued at approximately $228,000. Finally, Blackhawk Capital Partners LLC purchased a new stake in shares of Navios Maritime Partners in the 3rd quarter valued at approximately $247,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.