Zacks Investment Research Downgrades Navios Maritime Midstream (NAP) to Sell

Zacks Investment Research lowered shares of Navios Maritime Midstream (NYSE:NAP) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Navios Maritime Midstream Partners LP engages in owning, operating and acquiring crude oil tankers, refined petroleum product tankers, chemical tankers and liquefied petroleum gas tankers under long-term employment contracts. The Company charters its contracts to international oil companies, refiners and large vessel operators. It owns a fleet of four very large crude carriers (VLCCs) providing global marine transportation services. Navios Maritime Midstream Partners LP is based in Monte Carlo, Monaco. “

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Other analysts also recently issued research reports about the stock. TheStreet raised shares of Navios Maritime Midstream from a c+ rating to a b- rating in a report on Friday, February 2nd. ValuEngine downgraded shares of Navios Maritime Midstream from a buy rating to a hold rating in a report on Friday, February 2nd. Citigroup reduced their price target on shares of Navios Maritime Midstream from $8.50 to $6.50 and set a neutral rating on the stock in a report on Tuesday, March 27th. Finally, JPMorgan Chase downgraded shares of Navios Maritime Midstream from a neutral rating to an underweight rating and set a $7.00 price target on the stock. in a report on Friday, March 23rd. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock has a consensus rating of Sell and an average price target of $7.17.

Shares of NYSE NAP opened at $3.30 on Wednesday. Navios Maritime Midstream has a 12-month low of $3.30 and a 12-month high of $12.24. The stock has a market capitalization of $76.94, a price-to-earnings ratio of 4.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The company has a current ratio of 12.59, a quick ratio of 12.59 and a debt-to-equity ratio of 0.77.

Navios Maritime Midstream (NYSE:NAP) last announced its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.02). Navios Maritime Midstream had a net margin of 14.73% and a return on equity of 4.64%. The business had revenue of $22.70 million during the quarter, compared to analysts’ expectations of $21.32 million. equities analysts predict that Navios Maritime Midstream will post 0.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Wednesday, May 9th will be paid a dividend of $0.50 per share. This is an increase from Navios Maritime Midstream’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, May 8th. This represents a $2.00 annualized dividend and a dividend yield of 60.61%. Navios Maritime Midstream’s dividend payout ratio is presently 241.43%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new position in shares of Navios Maritime Midstream during the fourth quarter valued at approximately $213,000. Virtu Financial LLC lifted its stake in shares of Navios Maritime Midstream by 139.1% during the fourth quarter. Virtu Financial LLC now owns 34,693 shares of the shipping company’s stock valued at $330,000 after buying an additional 20,183 shares during the period. Finally, CS Mckee LP lifted its stake in shares of Navios Maritime Midstream by 33.0% during the third quarter. CS Mckee LP now owns 64,900 shares of the shipping company’s stock valued at $484,000 after buying an additional 16,100 shares during the period. 9.33% of the stock is currently owned by institutional investors and hedge funds.

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About Navios Maritime Midstream

Navios Maritime Midstream Partners L.P. owns, operates, and acquires crude oil tankers, refined petroleum product tankers, chemical tankers, and liquefied petroleum gas tankers. The company provides seaborne shipping services through its vessels under long-term employment contracts to international oil companies, refiners, and large vessel operators.

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