Brokerages expect that Navios Maritime Partners L.P. (NYSE:NMM) will report $56.65 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Navios Maritime Partners’ earnings, with the highest sales estimate coming in at $60.67 million and the lowest estimate coming in at $50.10 million. Navios Maritime Partners reported sales of $49.67 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.1%. The business is scheduled to announce its next earnings results on Tuesday, February 13th.
According to Zacks, analysts expect that Navios Maritime Partners will report full year sales of $56.65 million for the current fiscal year, with estimates ranging from $199.66 million to $213.05 million. For the next financial year, analysts expect that the firm will report sales of $230.51 million per share, with estimates ranging from $185.92 million to $276.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Navios Maritime Partners.
A number of analysts have weighed in on NMM shares. TheStreet upgraded shares of Navios Maritime Partners from a “d+” rating to a “c-” rating in a research note on Wednesday, November 15th. Zacks Investment Research downgraded shares of Navios Maritime Partners from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup raised their price target on shares of Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a report on Thursday, November 16th. Finally, Jefferies Group began coverage on shares of Navios Maritime Partners in a report on Monday, December 18th. They set a “buy” rating and a $2.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $2.19.
Navios Maritime Partners (NYSE NMM) traded down $0.03 during trading hours on Friday, reaching $2.44. 428,839 shares of the company’s stock were exchanged, compared to its average volume of 1,140,000. The company has a market cap of $367.99, a price-to-earnings ratio of 244.00 and a beta of 1.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.39 and a current ratio of 1.39. Navios Maritime Partners has a 1-year low of $1.45 and a 1-year high of $2.65.
Several hedge funds and other institutional investors have recently made changes to their positions in NMM. Virtu KCG Holdings LLC boosted its holdings in shares of Navios Maritime Partners by 1.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 92,494 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 1,324 shares during the last quarter. Sound Point Capital Management LP boosted its holdings in shares of Navios Maritime Partners by 7.7% during 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 acquiring an additional 78,743 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Navios Maritime Partners during the 2nd quarter valued at about $188,000. Macquarie Group Ltd. purchased a new stake in shares of Navios Maritime Partners during the 3rd quarter valued at about $320,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Navios Maritime Partners by 17.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,516,136 shares of the shipping company’s stock valued at $3,184,000 after acquiring an additional 226,982 shares during the last quarter. 15.31% of the stock is currently owned by hedge funds and other institutional investors.
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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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