Navios Maritime Partners LP (NMM) to Issue Quarterly Dividend of $0.05 on November 14th

Navios Maritime Partners LP (NYSE:NMM) announced a quarterly dividend on Wednesday, October 29th. Shareholders of record on Monday, November 10th will be paid a dividend of 0.05 per share by the shipping company on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 10th.

Navios Maritime Partners has decreased its dividend by an average of 0.3%per year over the last three years. Navios Maritime Partners has a payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.9%

NMM opened at $48.51 on Friday. Navios Maritime Partners has a 1-year low of $28.37 and a 1-year high of $53.92. The stock has a market capitalization of $1.44 billion, a PE ratio of 4.84 and a beta of 1.53. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $46.84 and a two-hundred day moving average price of $42.45.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, August 21st. The shipping company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.41. The firm had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $309.58 million. Navios Maritime Partners had a net margin of 23.31% and a return on equity of 9.24%. Navios Maritime Partners’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 EPS. As a group, equities analysts anticipate that Navios Maritime Partners will post 12.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Navios Maritime Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

About Navios Maritime Partners

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.