Zacks: Brokerages Anticipate Navios Maritime Partners L.P. (NMM) to Post $0.05 Earnings Per Share

Analysts expect that Navios Maritime Partners L.P. (NYSE:NMM) will announce $0.05 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Navios Maritime Partners’ earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.01. Navios Maritime Partners posted earnings per share of $0.04 in the same quarter last year, which would indicate a positive year over year growth rate of 25%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 13th.

According to Zacks, analysts expect that Navios Maritime Partners will report full-year earnings of $0.20 per share for the current year, with EPS estimates ranging from $0.06 to $0.33. For the next financial year, analysts expect that the business will post earnings of $0.20 per share, with EPS estimates ranging from $0.04 to $0.43. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Navios Maritime Partners.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Wednesday, August 1st. The shipping company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Navios Maritime Partners had a positive return on equity of 3.98% and a negative net margin of 16.31%. The firm had revenue of $58.20 million during the quarter, compared to analysts’ expectations of $57.07 million.

NMM has been the subject of several research reports. Zacks Investment Research raised Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Wednesday, July 11th. ValuEngine cut Navios Maritime Partners from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $2.33.

NMM stock traded down $0.01 during midday trading on Friday, reaching $1.63. 459,506 shares of the company’s stock traded hands, compared to its average volume of 717,393. Navios Maritime Partners has a 1-year low of $1.60 and a 1-year high of $2.62. The stock has a market capitalization of $293.28 million, a price-to-earnings ratio of 10.19 and a beta of 1.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.92.

Large investors have recently bought and sold shares of the company. Evermore Global Advisors LLC lifted its holdings in shares of Navios Maritime Partners by 4.9% during the 2nd quarter. Evermore Global Advisors LLC now owns 10,792,588 shares of the shipping company’s stock worth $20,398,000 after acquiring an additional 500,155 shares during the last quarter. Millennium Management LLC lifted its stake in Navios Maritime Partners by 982.2% in the first quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock worth $764,000 after purchasing an additional 385,048 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Navios Maritime Partners by 28.3% in the first quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock worth $2,536,000 after purchasing an additional 310,316 shares during the last quarter. UBS Group AG lifted its stake in Navios Maritime Partners by 34.7% in the first quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock worth $1,550,000 after purchasing an additional 222,001 shares during the last quarter. Finally, Natixis bought a new stake in Navios Maritime Partners in the first quarter worth $107,000. Institutional investors and hedge funds own 19.60% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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