Navios Maritime Holdings Trading 2.6% Higher on Strong Earnings (NM)
Shares of Navios Maritime Holdings (NYSE:NM) traded up 2.6% during mid-day trading on Thursday following a stronger than expected earnings report, Analyst Ratings Network reports. The stock traded as high as $9.50 and last traded at $9.41, with a volume of 559,577 shares. The stock had previously closed at $9.17.
The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The company had revenue of $145.41 million for the quarter, compared to the consensus estimate of $135.20 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.62%.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Navios Maritime Holdings from an “outperform” rating to a “neutral” rating in a research note on Monday, August 4th. They now have a $9.70 price target on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Navios Maritime Holdings in a research note on Tuesday, June 10th. They set a “buy” rating and a $14.00 price target on the stock. Finally, analysts at MLV & Co
initiated coverage on shares of Navios Maritime Holdings in a research note on Wednesday, May 28th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Navios Maritime Holdings has an average rating of “Buy” and an average price target of $11.30.
The stock’s 50-day moving average is $8.55 and its 200-day moving average is $9.14. The company’s market cap is $962.9 million.
Navios Maritime Holdings Inc (NYSE:NM) is a global, vertically integrated seaborne shipping and logistics company which operates numerous businesses focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.
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