Wall Street brokerages predict that Navios Maritime Partners L.P. (NYSE:NMM) will post earnings per share of $0.07 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Navios Maritime Partners’ earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.11. Navios Maritime Partners also reported earnings of $0.07 per share in the same quarter last year. The business is expected to announce its next quarterly earnings report on Monday, February 4th.
According to Zacks, analysts expect that Navios Maritime Partners will report full year earnings of $0.27 per share for the current fiscal year, with EPS estimates ranging from $0.25 to $0.29. For the next financial year, analysts expect that the business will report earnings of $0.29 per share, with EPS estimates ranging from $0.10 to $0.43. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Navios Maritime Partners.
Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, November 13th. The shipping company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Navios Maritime Partners had a positive return on equity of 5.27% and a negative net margin of 15.62%. The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $58.46 million.
A number of brokerages have issued reports on NMM. Zacks Investment Research downgraded Navios Maritime Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 1st. ValuEngine cut Navios Maritime Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. Finally, JPMorgan Chase & Co. raised Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the stock. Navios Maritime Partners presently has a consensus rating of “Hold” and a consensus price target of $1.93.
Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in Navios Maritime Partners by 31.4% during the second quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock worth $4,460,000 after acquiring an additional 564,098 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Navios Maritime Partners during the third quarter worth $526,000. Macquarie Group Ltd. boosted its position in shares of Navios Maritime Partners by 128.7% during the second quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock worth $145,000 after buying an additional 43,200 shares during the period. Millennium Management LLC boosted its position in shares of Navios Maritime Partners by 17.1% during the second quarter. Millennium Management LLC now owns 496,941 shares of the shipping company’s stock worth $939,000 after buying an additional 72,692 shares during the period. Finally, Natixis boosted its position in shares of Navios Maritime Partners by 166.7% during the second quarter. Natixis now owns 160,000 shares of the shipping company’s stock worth $302,000 after buying an additional 100,000 shares during the period. 17.38% of the stock is owned by institutional investors.
NMM stock traded down $0.04 during mid-day trading on Monday, reaching $1.12. 4,041 shares of the company’s stock were exchanged, compared to its average volume of 878,769. The company has a market capitalization of $197.76 million, a P/E ratio of 7.13 and a beta of 1.64. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.62. Navios Maritime Partners has a 12-month low of $0.78 and a 12-month high of $2.49.
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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.
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