Zacks Downgrades Navios Maritime Partners L.P. to Neutral (NMM)
Navios Maritime Partners L.P. (NYSE:NMM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Analyst Ratings.Net reports. They currently have a $20.80 target price on the stock. Zacks‘ price objective points to a potential upside of 11.65% from the company’s current price.
Shares of Navios Maritime Partners L.P. (NYSE:NMM) traded down 0.11% on Monday, hitting $18.61. The stock had a trading volume of 323,585 shares. Navios Maritime Partners L.P. has a 52 week low of $13.22 and a 52 week high of $19.70. The stock’s 50-day moving average is $17.50 and its 200-day moving average is $15.44. The company has a market cap of $1.349 billion and a P/E ratio of 15.17.
Navios Maritime Partners L.P. (NYSE:NMM) last released its earnings data on Thursday, October 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $46.58 million for the quarter, compared to the consensus estimate of $45.08 million. During the same quarter last year, the company posted $0.36 earnings per share. Navios Maritime Partners L.P.’s revenue was down 16.1% compared to the same quarter last year. On average, analysts predict that Navios Maritime Partners L.P. will post $0.85 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on NMM. Analysts at Global Hunter Securities downgraded shares of Navios Maritime Partners L.P. from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Navios Maritime Partners L.P. from an “overweight” rating to a “neutral” rating in a research note to investors on Monday, December 23rd. Finally, analysts at Deutsche Bank upgraded shares of Navios Maritime Partners L.P. from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 5th. They now have a $20.00 price target on the stock, up previously from $16.00. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $18.46.
Navios Maritime Partners L.P. (NYSE:NMM) is an international owner and operator of drybulk carriers formed by Navios Maritime Holdings Inc (Navios Holdings), a vertically integrated seaborne shipping company.
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