$21.46 Million in Sales Expected for Navios Maritime Midstream Partners LP (NAP) This Quarter
Wall Street brokerages expect Navios Maritime Midstream Partners LP (NYSE:NAP) to report $21.46 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Navios Maritime Midstream Partners’ earnings. The lowest sales estimate is $21.32 million and the highest is $21.60 million. Navios Maritime Midstream Partners posted sales of $22.21 million in the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Navios Maritime Midstream Partners will report full year sales of $21.46 million for the current financial year, with estimates ranging from $81.67 million to $82.10 million. For the next year, analysts forecast that the firm will post sales of $85.86 million per share, with estimates ranging from $84.12 million to $87.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Navios Maritime Midstream Partners.
Navios Maritime Midstream Partners (NYSE:NAP) last released its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.13. Navios Maritime Midstream Partners had a net margin of 18.41% and a return on equity of 5.73%. The business had revenue of $18.50 million during the quarter, compared to the consensus estimate of $21.14 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year.
A number of research analysts have commented on the company. Zacks Investment Research lowered Navios Maritime Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. ValuEngine downgraded Navios Maritime Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Bank of America Corporation downgraded Navios Maritime Midstream Partners from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $13.00 to $8.00 in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $10.33.
Shares of Navios Maritime Midstream Partners (NYSE:NAP) traded up 3.00% during mid-day trading on Friday, reaching $7.56. The company had a trading volume of 128,531 shares. The firm’s 50-day moving average price is $9.44 and its 200 day moving average price is $10.52. The company has a market cap of $158.36 million, a price-to-earnings ratio of 9.13 and a beta of 0.52. Navios Maritime Midstream Partners has a 52-week low of $6.55 and a 52-week high of $12.70.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.4225 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $1.69 dividend on an annualized basis and a yield of 22.35%. Navios Maritime Midstream Partners’s dividend payout ratio is presently 196.51%.
Large investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC purchased a new position in shares of Navios Maritime Midstream Partners during the second quarter worth $133,000. Virtu KCG Holdings LLC bought a new position in Navios Maritime Midstream Partners during the second quarter valued at approximately $266,000. Finally, Arrow Investment Advisors LLC bought a new position in Navios Maritime Midstream Partners during the second quarter valued at approximately $570,000. 27.83% of the stock is currently owned by institutional investors and hedge funds.
About Navios Maritime Midstream Partners
Navios Maritime Midstream Partners L.P. (Navios Midstream) is a holding company. The Company’s principal activity is to own, operate and acquire crude oil tankers under long-term employment contracts, as well as refined petroleum product tankers, chemical tankers, and liquefied petroleum gas (LPG) tankers under long-term employment contracts.
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