Navios Maritime Partners LP (NMM) to Issue Quarterly Dividend of $0.06 on August 13th

Navios Maritime Partners LP (NYSE:NMM) declared a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be paid a dividend of 0.06 per share by the shipping company on Thursday, August 13th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 10th.

Navios Maritime Partners has decreased its dividend 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 Trading Up 2.1%

Shares of NYSE:NMM opened at $80.92 on Friday. The company’s 50-day moving average price is $73.39 and its two-hundred day moving average price is $68.78. Navios Maritime Partners has a one year low of $40.80 and a one year high of $82.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $2.32 billion, a PE ratio of 6.82 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (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 for the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the previous year, the business earned $1.58 earnings per share. Navios Maritime Partners’s quarterly revenue was up 17.4% on a year-over-year basis.

Analysts Set New Price Targets

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

About Navios Maritime Partners

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.