Navios Maritime Partners LP (NMM) to Issue Quarterly Dividend of $0.06 on November 12th

Navios Maritime Partners LP (NYSE:NMM) declared a quarterly dividend on Tuesday, October 27th. Investors of record on Monday, November 9th will be paid a dividend of $0.06 per share by the shipping company on Thursday, November 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, November 9th.

Navios Maritime Partners has decreased its dividend payment by an average of 0.2% annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.8% indicating that its dividend is sufficiently covered by earnings.

Navios Maritime Partners Stock Up 0.9%

NMM opened at $88.96 on Thursday. The stock’s 50 day moving average price is $90.29 and its 200 day moving average price is $74.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market cap of $2.55 billion, a P/E ratio of 5.81 and a beta of 1.05. Navios Maritime Partners has a 12 month low of $46.39 and a 12 month high of $97.00.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.30. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%. The company had revenue of $410.17 million during the quarter, compared to analysts’ expectations of $360.83 million. During the same quarter in the prior year, the business posted $2.15 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms have commented on NMM. Jefferies Financial Group raised their target price on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Weiss Ratings upgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Navios Maritime Partners has a consensus rating of “Buy” and a consensus price target of $100.00.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE:NMM) is a publicly traded maritime transportation company that owns and operates vessels serving international trade routes. Its fleet is focused primarily on dry bulk carriers and containerships, with additional exposure to tanker shipping through vessels that transport liquid cargoes.

The company’s vessels transport commodities and manufactured goods for customers worldwide. Dry bulk ships carry cargoes such as iron ore, grain and coal, while containerships transport consumer products, industrial goods and other containerized freight.