Navios Maritime Partners (NYSE:NMM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a buy rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Navios Maritime Partners Trading Down 0.7%

Shares of NMM stock opened at $51.16 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. Navios Maritime Partners has a 12-month low of $28.37 and a 12-month high of $56.44. The stock has a market capitalization of $1.52 billion, a P/E ratio of 5.86 and a beta of 1.43. The firm’s 50 day moving average is $49.62 and its 200 day moving average is $45.31.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.28. The firm had revenue of $346.92 million for the quarter, compared to the consensus estimate of $334.64 million. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $3.15 EPS. Research analysts expect that Navios Maritime Partners will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Navios Maritime Partners’s payout ratio is currently 2.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NMM. Allworth Financial LP purchased a new stake in Navios Maritime Partners in the 2nd quarter worth approximately $47,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Navios Maritime Partners in the second quarter worth $62,000. State of Wyoming purchased a new stake in shares of Navios Maritime Partners in the first quarter worth $157,000. Blackhawk Capital Partners LLC bought a new stake in shares of Navios Maritime Partners during the 3rd quarter valued at $247,000. Finally, Cerity Partners LLC purchased a new position in shares of Navios Maritime Partners during the 2nd quarter valued at $212,000. Institutional investors own 62.74% of the company’s stock.

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 liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.