Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Thursday, July 30th, Wall Street Journal reports. Shareholders of record on Monday, August 10th will be paid a dividend of 0.05 per share by the shipping company on Thursday, August 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, August 7th.
Navios Maritime Partners has a payout ratio of -4,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Navios Maritime Partners to earn $5.93 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 20.2%.
Shares of NMM opened at $6.34 on Friday. The business’s 50 day moving average is $8.77 and its two-hundred day moving average is $8.68. Navios Maritime Partners has a 52-week low of $4.08 and a 52-week high of $21.30. The firm has a market cap of $73.62 million, a price-to-earnings ratio of 3.90 and a beta of 2.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.
Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Wednesday, July 29th. The shipping company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.29). Navios Maritime Partners had a negative net margin of 32.80% and a positive return on equity of 2.55%. The business had revenue of $46.55 million during the quarter, compared to analyst estimates of $46.69 million. On average, equities analysts expect that Navios Maritime Partners will post 0.85 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Jefferies Financial Group lowered Navios Maritime Partners from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research report on Wednesday. ValuEngine raised Navios Maritime Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, July 13th. Finally, Zacks Investment Research raised Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Navios Maritime Partners presently has a consensus rating of “Hold” and an average price target of $13.81.
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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