Navios Maritime Partners (NYSE:NMM) Releases Quarterly Earnings Results, Misses Expectations By $0.65 EPS

Navios Maritime Partners (NYSE:NMM) released its earnings results on Tuesday. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65), Briefing.com reports. The firm had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 EPS.

Navios Maritime Partners Price Performance

Shares of NMM traded up $1.25 during midday trading on Thursday, hitting $54.72. 26,668 shares of the company traded hands, compared to its average volume of 179,085. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 4.05 and a beta of 1.99. The firm has a 50 day moving average of $57.35 and a 200-day moving average of $51.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. Navios Maritime Partners has a 52 week low of $21.18 and a 52 week high of $65.89.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date is Tuesday, November 12th. Navios Maritime Partners’s payout ratio is currently 1.52%.

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

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.