Zacks: Brokerages Anticipate Navios Maritime Holdings Inc. (NYSE:NM) Will Post Quarterly Sales of $117.95 Million
Brokerages forecast that Navios Maritime Holdings Inc. (NYSE:NM) will report $117.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Navios Maritime Holdings’ earnings, with the highest sales estimate coming in at $126.32 million and the lowest estimate coming in at $109.57 million. Navios Maritime Holdings reported sales of $105.73 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 24th.
According to Zacks, analysts expect that Navios Maritime Holdings will report full year sales of $117.95 million for the current fiscal year, with estimates ranging from $467.99 million to $487.29 million. For the next fiscal year, analysts anticipate that the company will post sales of $543.41 million per share, with estimates ranging from $540.30 million to $546.52 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Navios Maritime Holdings.
Navios Maritime Holdings (NYSE:NM) last released its quarterly earnings data on Wednesday, May 24th. The shipping company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.30) by $0.07. Navios Maritime Holdings had a negative return on equity of 13.28% and a negative net margin of 20.55%. The business had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $104.31 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Navios Maritime Holdings’s quarterly revenue was down 6.1% on a year-over-year basis.
A number of equities research analysts have commented on NM shares. Zacks Investment Research lowered Navios Maritime Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Citigroup Inc. decreased their price objective on Navios Maritime Holdings from $1.50 to $1.25 and set a “sell” rating for the company in a research report on Thursday, May 25th. Finally, ValuEngine lowered Navios Maritime Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, May 31st.
Navios Maritime Holdings (NYSE NM) traded down 4.58% during midday trading on Friday, hitting $1.25. 263,144 shares of the company traded hands. The stock’s market cap is $143.96 million. The stock has a 50 day moving average of $1.23 and a 200 day moving average of $1.60. Navios Maritime Holdings has a 12-month low of $0.79 and a 12-month high of $2.40.
A number of large investors have recently made changes to their positions in NM. Parametric Portfolio Associates LLC raised its stake in shares of Navios Maritime Holdings by 8.3% in the first quarter. Parametric Portfolio Associates LLC now owns 2,776,233 shares of the shipping company’s stock worth $5,192,000 after buying an additional 212,145 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Navios Maritime Holdings by 9.8% in the first quarter. Renaissance Technologies LLC now owns 1,919,702 shares of the shipping company’s stock worth $3,590,000 after buying an additional 170,900 shares during the last quarter. Horseman Capital Management Ltd acquired a new stake in shares of Navios Maritime Holdings during the first quarter worth approximately $1,834,000. Goldman Sachs Group Inc. raised its stake in shares of Navios Maritime Holdings by 254.4% in the first quarter. Goldman Sachs Group Inc. now owns 858,152 shares of the shipping company’s stock worth $1,605,000 after buying an additional 615,981 shares during the last quarter. Finally, Phoenix Investment Adviser LLC raised its stake in shares of Navios Maritime Holdings by 37.5% in the first quarter. Phoenix Investment Adviser LLC now owns 288,700 shares of the shipping company’s stock worth $540,000 after buying an additional 78,700 shares during the last quarter. Hedge funds and other institutional investors own 19.70% of the company’s stock.
About Navios Maritime Holdings
Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.
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