Navios Maritime Partners LP (NYSE:NMM) Expected to Announce Quarterly Sales of $44.39 Million
Brokerages expect Navios Maritime Partners LP (NYSE:NMM) to announce sales of $44.39 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Navios Maritime Partners’ earnings, with the lowest sales estimate coming in at $43.50 million and the highest estimate coming in at $45.82 million. Navios Maritime Partners posted sales of $44.88 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 10th.
According to Zacks, analysts expect that Navios Maritime Partners will report full-year sales of $44.39 million for the current fiscal year, with estimates ranging from $166.66 million to $202.18 million. For the next financial year, analysts forecast that the business will report sales of $211.85 million per share, with estimates ranging from $203.95 million to $230.46 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Navios Maritime Partners.
Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Monday, May 22nd. The shipping company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. The company had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.31 million. Navios Maritime Partners had a positive return on equity of 2.10% and a negative net margin of 31.19%. The firm’s revenue was down 7.0% compared to the same quarter last year.
A number of analysts have issued reports on NMM shares. Stifel Nicolaus reissued a “hold” rating and issued a $2.25 target price on shares of Navios Maritime Partners in a research report on Friday, June 23rd. Citigroup Inc. boosted their target price on Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Zacks Investment Research lowered Navios Maritime Partners from a “buy” rating to a “hold” rating in a research report on Friday, March 31st. Finally, Jefferies Group LLC started coverage on Navios Maritime Partners in a research report on Monday, June 5th. They issued a “buy” rating and a $2.00 target price on the stock.
Navios Maritime Partners (NYSE:NMM) traded up 7.53% on Friday, reaching $1.57. The company’s stock had a trading volume of 293,566 shares. Navios Maritime Partners has a 52 week low of $1.15 and a 52 week high of $2.94. The company has a 50 day moving average of $1.63 and a 200 day moving average of $1.79. The firm’s market capitalization is $236.20 million.
Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP raised its stake in Navios Maritime Partners by 98.8% in the fourth quarter. Two Sigma Investments LP now owns 185,507 shares of the shipping company’s stock worth $262,000 after buying an additional 92,209 shares in the last quarter. Nine Chapters Capital Management LLC bought a new stake in Navios Maritime Partners during the first quarter worth $125,000. Evermore Global Advisors LLC bought a new stake in Navios Maritime Partners during the first quarter worth $12,330,000. Renaissance Technologies LLC bought a new stake in Navios Maritime Partners during the fourth quarter worth $109,000. Finally, Sanders Morris Harris Inc. raised its stake in Navios Maritime Partners by 134.3% in the first quarter. Sanders Morris Harris Inc. now owns 282,650 shares of the shipping company’s stock worth $585,000 after buying an additional 162,000 shares in the last quarter. 19.26% of the stock is currently owned by institutional investors and hedge funds.
About Navios Maritime Partners
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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