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 report sent to investors on Sunday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Navios Maritime Partners Stock Up 2.8%

NMM stock opened at $68.48 on Friday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.38. The company has a 50-day moving average of $56.69 and a two-hundred day moving average of $51.21. Navios Maritime Partners has a 52-week low of $28.37 and a 52-week high of $69.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.99. The business had revenue of $365.55 million during the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a return on equity of 9.28% and a net margin of 21.23%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, equities research analysts anticipate that Navios Maritime Partners will post 12.64 EPS for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s payout ratio is 2.08%.

Institutional Investors Weigh In On Navios Maritime Partners

Several large investors have recently modified their holdings of NMM. Ion Asset Management Ltd. raised its holdings in shares of Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after buying an additional 17,285 shares in the last quarter. ION Fund Management Ltd bought a new stake in Navios Maritime Partners in the fourth quarter valued at $24,432,000. Commonwealth Equity Services LLC raised its stake in Navios Maritime Partners by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock worth $7,152,000 after acquiring an additional 2,045 shares in the last quarter. ING Groep NV lifted its holdings in shares of Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after purchasing an additional 26,340 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors.

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.