Navios Maritime Partners (NYSE:NMM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Navios Maritime Partners (NYSE:NMM) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Shares of NYSE:NMM opened at $25.24 on Wednesday. The stock has a market capitalization of $500.26 million, a PE ratio of 1.44 and a beta of 2.37. Navios Maritime Partners has a 1 year low of $12.25 and a 1 year high of $36.46. The firm has a fifty day moving average price of $26.02 and a 200 day moving average price of $26.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.71.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Wednesday, November 10th. The shipping company reported $4.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.44 by $1.33. The firm had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $216.15 million. Navios Maritime Partners had a net margin of 67.76% and a return on equity of 22.31%. During the same period in the prior year, the company posted $0.78 earnings per share. On average, sell-side analysts forecast that Navios Maritime Partners will post 15.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Monday, November 8th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, November 5th. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.14%.

Hedge funds have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. boosted its holdings in Navios Maritime Partners by 102.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,537 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 777 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Navios Maritime Partners by 386.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,300 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 1,033 shares during the period. Citigroup Inc. boosted its holdings in Navios Maritime Partners by 4,449.0% during the second quarter. Citigroup Inc. now owns 2,320 shares of the shipping company’s stock valued at $69,000 after acquiring an additional 2,269 shares during the period. Captrust Financial Advisors boosted its holdings in Navios Maritime Partners by 11.2% during the third quarter. Captrust Financial Advisors now owns 5,958 shares of the shipping company’s stock valued at $193,000 after acquiring an additional 600 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Navios Maritime Partners by 10,666.7% in the third quarter. Royal Bank of Canada now owns 6,137 shares of the shipping company’s stock valued at $199,000 after buying an additional 6,080 shares during the period. Institutional investors own 43.26% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners LP operates as a shipping and logistics company, which engages in owning and operating dry cargo and container vessels. It focuses on transport and transshipment of dry bulk commodities including iron ore, coal, and grain. The company was founded on August 7, 2007 and is headquartered in Monte Carlo, Monaco.

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