Navios Maritime Holdings Coverage Initiated by Analysts at Stifel Nicolaus (NM)
Investment analysts at Stifel Nicolaus started coverage on shares of Navios Maritime Holdings (NYSE:NM) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “We are initiating coverage of Navios Maritime (NM) with a Hold rating on the units as we believe they are fairly valued, trading at a 3% discount to our current sum-of-the-parts valuation of $7.69 per share. Furthermore, although we believe the dry bulk market, which comprises the majority of NM’s market exposure, is moving more toward a sustained rebalancing of supply and demand that should result in strong average charter rates, we estimate the rebalancing is unlikely to occur until late 2014. However, Navios Holdings is a market leader with strong cash flows and balance sheet strength, which should enable the company to position itself as a leading participant in the acquisition of distressed assets as well as the eventual cyclical recovery in the dry bulk market.”
Shares of Navios Maritime Holdings (NYSE:NM) traded down 2.42% during mid-day trading on Tuesday, hitting $6.86. 521,071 shares of the company’s stock traded hands. Navios Maritime Holdings has a 52 week low of $3.26 and a 52 week high of $7.67. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $5.55. The company has a market cap of $698.2 million and a P/E ratio of 5.57.
Navios Maritime Holdings (NYSE:NM) last announced its earnings results on Thursday, August 22nd. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.11) by $0.05. The company had revenue of $125.60 million for the quarter, compared to the consensus estimate of $132.55 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 27.0% on a year-over-year basis. Analysts expect that Navios Maritime Holdings will post $-0.43 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on NM. Analysts at Global Hunter Securities raised their price target on shares of Navios Maritime Holdings from $6.00 to $7.50 in a research note to investors on Friday, August 23rd. Analysts at Zacks downgraded shares of Navios Maritime Holdings from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 2nd. They now have a $6.40 price target on the stock.
Navios Maritime Holdings Inc (NYSE:NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain.
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