Navios Maritime Partners LP Plans Quarterly Dividend of $0.06 (NYSE:NMM)

Key Points

• Navios Maritime Partners declared a quarterly dividend of $0.06 per share, payable August 13 to shareholders of record on August 10. The dividend carries an annualized yield of approximately 0.3%, with the ex-dividend date also set for August 10.
• The company reported strong quarterly results, posting EPS of $3.35 versus the $2.77 analyst estimate and revenue of $357.01 million, up 17.4% year over year.
• Analyst sentiment is moderately positive: Jefferies initiated coverage with a Buy rating and an $85 price target, while another analyst downgraded the stock to Hold. The consensus rating is “Moderate Buy,” with an average target of $85.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.06 per share by the shipping company on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th.

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

Navios Maritime Partners Stock Performance

NMM opened at $79.22 on Friday. The firm has a market cap of $2.27 billion, a P/E ratio of 6.67 and a beta of 1.00. Navios Maritime Partners has a 52-week low of $40.80 and a 52-week high of $80.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The business's fifty day moving average is $73.26 and its 200-day moving average is $68.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Navios Maritime Partners's revenue for the quarter was up 17.4% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a "buy" rating and a $85.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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