Navios Maritime Partners L.P. Declares Quarterly Dividend of $0.05 (NYSE:NMM)

Navios Maritime Partners L.P. (NYSE:NMM) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Investors of record on Friday, May 9th will be given a dividend of 0.05 per share by the shipping company on Wednesday, May 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, May 9th.

Navios Maritime Partners has a dividend payout ratio of 1.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Navios Maritime Partners to earn $15.55 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 1.3%.

Navios Maritime Partners Stock Down 1.0 %

NMM opened at $33.93 on Tuesday. The stock has a fifty day moving average of $37.20 and a 200-day moving average of $44.08. The company has a market capitalization of $1.01 billion, a P/E ratio of 2.83 and a beta of 1.65. Navios Maritime Partners has a fifty-two week low of $28.37 and a fifty-two week high of $65.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, February 13th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.54 by ($1.93). The business had revenue of $302.99 million during the quarter, compared to the consensus estimate of $340.83 million. Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. On average, equities analysts expect that Navios Maritime Partners will post 12.64 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Thursday, March 13th.

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.