Navios Maritime Partners L.P. (NYSE:NMM) to Issue $0.05 Quarterly Dividend

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.05 per share by the shipping company on Thursday, February 13th. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, February 10th.

Navios Maritime Partners has a dividend payout ratio of 1.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Navios Maritime Partners to earn $13.87 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.4%.

Navios Maritime Partners Price Performance

Shares of NMM stock traded up $0.14 during trading hours on Friday, hitting $42.20. 122,367 shares of the company’s stock were exchanged, compared to its average volume of 139,288. Navios Maritime Partners has a 52 week low of $27.47 and a 52 week high of $65.89. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 3.20 and a beta of 1.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50-day moving average is $44.86 and its 200-day moving average is $50.51.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. The company had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. During the same period in the prior year, the company earned $2.68 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Navios Maritime Partners will post 11.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th.

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.