Zacks: Analysts Anticipate Navios Maritime Partners L.P. (NMM) Will Post Quarterly Sales of $55.75 Million

Wall Street brokerages expect Navios Maritime Partners L.P. (NYSE:NMM) to post $55.75 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Navios Maritime Partners’ earnings. The highest sales estimate is $59.33 million and the lowest is $51.00 million. Navios Maritime Partners posted sales of $42.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.5%. The firm is expected to report its next earnings results on Monday, May 28th.

On average, analysts expect that Navios Maritime Partners will report full year sales of $55.75 million for the current financial year, with estimates ranging from $218.53 million to $270.24 million. For the next financial year, analysts anticipate that the business will post sales of $238.24 million per share, with estimates ranging from $203.02 million to $266.96 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Navios Maritime Partners.

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Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Monday, February 5th. The shipping company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Navios Maritime Partners had a positive return on equity of 2.77% and a negative net margin of 7.13%. The business had revenue of $59.27 million for the quarter, compared to analyst estimates of $57.86 million.

Several research firms have commented on NMM. JPMorgan Chase & Co. lowered Navios Maritime Partners from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 17th. Jefferies Group began coverage on Navios Maritime Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $2.00 price objective on the stock. Finally, Zacks Investment Research upgraded Navios Maritime Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.44.

Large investors have recently made changes to their positions in the company. Macquarie Group Ltd. purchased a new position in shares of Navios Maritime Partners during the 3rd quarter valued at approximately $320,000. JPMorgan Chase & Co. lifted its position in shares of Navios Maritime Partners by 17.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,516,136 shares of the shipping company’s stock valued at $3,184,000 after buying an additional 226,982 shares in the last quarter. Ironsides Partners LLC lifted its position in shares of Navios Maritime Partners by 70.0% during the 4th quarter. Ironsides Partners LLC now owns 6,800,000 shares of the shipping company’s stock valued at $16,048,000 after buying an additional 2,800,000 shares in the last quarter. Concourse Capital Management LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $208,000. Finally, Virtu Financial LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $196,000. Hedge funds and other institutional investors own 16.05% of the company’s stock.

Navios Maritime Partners stock traded down $0.01 during trading on Thursday, reaching $1.83. The company’s stock had a trading volume of 995,698 shares, compared to its average volume of 689,159. The company has a current ratio of 0.55, a quick ratio of 1.39 and a debt-to-equity ratio of 0.61. Navios Maritime Partners has a 1-year low of $1.45 and a 1-year high of $2.62. The stock has a market cap of $306.69, a price-to-earnings ratio of -15.25 and a beta of 1.50.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.37%.

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Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

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