Navios Maritime Partners (NMM) Lifted to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

Separately, Zacks Investment Research raised Navios Maritime Partners from a sell rating to a hold rating in a report on Tuesday, May 7th.

Shares of NMM stock opened at $12.62 on Wednesday. Navios Maritime Partners has a 12-month low of $11.70 and a 12-month high of $31.65. The company has a current ratio of 2.08, a quick ratio of 2.12 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $139.75 million, a PE ratio of 3.82 and a beta of 1.81.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Friday, May 3rd. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.45. Navios Maritime Partners had a positive return on equity of 3.67% and a negative net margin of 12.47%. The firm had revenue of $46.82 million for the quarter, compared to analysts’ expectations of $50.41 million. As a group, analysts predict that Navios Maritime Partners will post 0.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Friday, May 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.51%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Thursday, May 9th. Navios Maritime Partners’s payout ratio is 36.36%.

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Navios Maritime Partners by 24.3% in the first quarter. Wells Fargo & Company MN now owns 55,977 shares of the shipping company’s stock worth $51,000 after purchasing an additional 10,951 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Navios Maritime Partners by 97.6% in the fourth quarter. Macquarie Group Ltd. now owns 44,409 shares of the shipping company’s stock worth $38,000 after purchasing an additional 21,937 shares during the last quarter. Two Sigma Securities LLC increased its holdings in shares of Navios Maritime Partners by 235.2% in the fourth quarter. Two Sigma Securities LLC now owns 38,535 shares of the shipping company’s stock worth $33,000 after purchasing an additional 27,039 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of Navios Maritime Partners in the fourth quarter worth about $750,000. Finally, Deutsche Bank AG increased its stake in Navios Maritime Partners by 983.2% during the fourth quarter. Deutsche Bank AG now owns 1,224,668 shares of the shipping company’s stock worth $1,039,000 after acquiring an additional 1,111,609 shares during the last quarter. 14.20% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Partners Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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