Brokerages Anticipate Navios Maritime Partners LP (NMM) Will Announce Earnings of $0.01 Per Share

Wall Street analysts predict that Navios Maritime Partners LP (NYSE:NMM) will announce $0.01 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Navios Maritime Partners’ earnings, with estimates ranging from ($0.01) to $0.03. Navios Maritime Partners posted earnings of $0.07 per share during the same quarter last year, which would suggest a negative year over year growth rate of 85.7%. The company is expected to announce its next earnings report on Monday, November 13th.

According to Zacks, analysts expect that Navios Maritime Partners will report full year earnings of $0.12 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.14. For the next financial year, analysts anticipate that the business will post earnings of $0.12 per share, with EPS estimates ranging from $0.11 to $0.14. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Navios Maritime Partners.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $50.02 million for the quarter, compared to analyst estimates of $44.37 million. Navios Maritime Partners had a positive return on equity of 2.60% and a negative net margin of 19.50%. Navios Maritime Partners’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS.

A number of research firms have commented on NMM. BidaskClub lowered Navios Maritime Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Navios Maritime Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $2.25 price target on shares of Navios Maritime Partners in a research note on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.17.

Navios Maritime Partners (NMM) traded down 0.97% during trading on Wednesday, reaching $2.04. The company’s stock had a trading volume of 104,089 shares. Navios Maritime Partners has a 1-year low of $1.15 and a 1-year high of $2.94. The stock’s market cap is $306.91 million. The company’s 50 day moving average price is $2.09 and its 200-day moving average price is $1.86.

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of Navios Maritime Partners by 905.0% in the 1st quarter. Renaissance Technologies LLC now owns 776,808 shares of the shipping company’s stock valued at $1,608,000 after purchasing an additional 699,514 shares during the last quarter. Sound Point Capital Management LP increased its stake in shares of Navios Maritime Partners by 7.7% in the 2nd quarter. Sound Point Capital Management LP now owns 1,094,891 shares of the shipping company’s stock valued at $1,741,000 after purchasing an additional 78,743 shares during the last quarter. Credit Suisse AG bought a new position in shares of Navios Maritime Partners in the 1st quarter valued at $1,780,000. Evermore Global Advisors LLC increased its stake in shares of Navios Maritime Partners by 19.8% in the 2nd quarter. Evermore Global Advisors LLC now owns 7,134,433 shares of the shipping company’s stock valued at $11,344,000 after purchasing an additional 1,177,833 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Navios Maritime Partners by 182.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,501,072 shares of the shipping company’s stock valued at $3,108,000 after purchasing an additional 970,357 shares during the last quarter. Institutional investors own 17.12% of the company’s stock.

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Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

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