Navios Maritime Holdings Inc. (NM) Issues Earnings Results, Misses Estimates By $0.04 EPS
Navios Maritime Holdings Inc. (NYSE:NM) posted its quarterly earnings data on Tuesday. The shipping company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.04), Briefing.com reports. Navios Maritime Holdings had a negative net margin of 20.64% and a negative return on equity of 16.83%. The company had revenue of $120.60 million for the quarter, compared to the consensus estimate of $138.00 million. During the same period last year, the business earned ($0.25) EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis.
Navios Maritime Holdings (NYSE:NM) traded up $0.02 during mid-day trading on Tuesday, hitting $1.44. The stock had a trading volume of 508,300 shares, compared to its average volume of 907,208. Navios Maritime Holdings has a 52-week low of $0.95 and a 52-week high of $2.26. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 2.32.
Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System bought a new position in Navios Maritime Holdings in the 2nd quarter worth $218,000. Vanguard Group Inc. bought a new position in Navios Maritime Holdings in the 2nd quarter worth $248,000. Finally, State Street Corp raised its holdings in Navios Maritime Holdings by 2,467.0% in the 2nd quarter. State Street Corp now owns 1,012,873 shares of the shipping company’s stock worth $1,388,000 after purchasing an additional 973,416 shares during the period. 20.25% of the stock is currently owned by institutional investors.
Several brokerages have commented on NM. Zacks Investment Research upgraded Navios Maritime Holdings from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, October 31st. ValuEngine upgraded Navios Maritime Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Clarkson Capital downgraded Navios Maritime Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $1.63.
Navios Maritime Holdings Company Profile
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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