Equities research analysts expect that Navios Maritime Partners L.P. (NYSE:NMM) will report sales of $56.97 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Navios Maritime Partners’ earnings. The highest sales estimate is $66.50 million and the lowest is $45.45 million. Navios Maritime Partners reported sales of $59.95 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The firm is scheduled to issue its next earnings report on Tuesday, November 13th.
On average, analysts expect that Navios Maritime Partners will report full year sales of $222.33 million for the current fiscal year, with estimates ranging from $193.63 million to $243.50 million. For the next fiscal year, analysts anticipate that the business will report sales of $224.02 million, with estimates ranging from $179.43 million to $262.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Navios Maritime Partners.
Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Wednesday, August 1st. The shipping company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Navios Maritime Partners had a negative net margin of 16.31% and a positive return on equity of 3.98%. 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 analyst reports. Zacks Investment Research upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Wednesday, July 11th. ValuEngine cut shares of Navios Maritime Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Navios Maritime Partners presently has a consensus rating of “Hold” and a consensus target price of $2.33.
NMM stock traded down $0.01 during trading on Thursday, hitting $1.80. The company had a trading volume of 149,200 shares, compared to its average volume of 733,564. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.92. Navios Maritime Partners has a 12 month low of $1.61 and a 12 month high of $2.62. The stock has a market capitalization of $293.28 million, a PE ratio of 11.19 and a beta of 1.62.
A number of hedge funds have recently bought and sold shares of NMM. Renaissance Technologies LLC raised its position in Navios Maritime Partners by 31.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock worth $4,460,000 after purchasing an additional 564,098 shares during the last quarter. Evermore Global Advisors LLC raised its position 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 valued at $20,398,000 after acquiring an additional 500,155 shares during the last quarter. Millennium Management LLC raised its position in shares of Navios Maritime Partners by 982.2% during the 1st quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock valued at $764,000 after acquiring an additional 385,048 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 28.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock valued at $2,536,000 after acquiring an additional 310,316 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Navios Maritime Partners by 34.7% during the 1st quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock valued at $1,550,000 after acquiring an additional 222,001 shares during the last quarter. Hedge funds and other institutional investors own 19.60% of the company’s stock.
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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