Navios Maritime Partners L.P. (NYSE:NMM) Given Average Rating of “Hold” by Brokerages

Navios Maritime Partners L.P. (NYSE:NMM) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, Analyst Ratings Net reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.60.

A number of research firms have recently issued reports on NMM. JPMorgan Chase & Co. began coverage on shares of Navios Maritime Partners L.P. in a research note on Thursday, October 15th. They set an “underweight” rating and a $5.00 price objective on the stock. Global Hunter Securities dropped their price objective on shares of Navios Maritime Partners L.P. from $11.50 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Citigroup Inc. downgraded shares of Navios Maritime Partners L.P. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Tuesday, November 3rd. Deutsche Bank reiterated a “buy” rating and set a $8.50 price objective (down from $15.00) on shares of Navios Maritime Partners L.P. in a research note on Wednesday, November 4th. Finally, Morgan Stanley upgraded shares of Navios Maritime Partners L.P. to a “hold” rating in a research note on Wednesday, November 4th.

Shares of Navios Maritime Partners L.P. (NYSE:NMM) traded down 0.99% during midday trading on Monday, reaching $2.99. 158,410 shares of the company’s stock were exchanged. Navios Maritime Partners L.P. has a one year low of $2.70 and a one year high of $14.19. The firm has a market cap of $253.48 million and a PE ratio of 5.34. The stock’s 50-day moving average is $3.41 and its 200 day moving average is $7.58.

Navios Maritime Partners L.P. (NYSE:NMM) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $57.10 million for the quarter, compared to analysts’ expectations of $60.15 million. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. Analysts anticipate that Navios Maritime Partners L.P. will post $0.55 EPS for the current year.

12 Month Chart for NYSE:NMM

Navios Maritime Partners L.P. (NYSE:NMM) is an international owner and operator of dry bulk and container vessels formed by Navios Holdings, which is a vertically integrated seaborne shipping company. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain, fertilizer and also containers, chartering its vessels under medium to long-term charters. The operations of Navios Partners are managed by Navios ShipManagement Inc., which is a subsidiary of Navios Holdings (the Manager), from its offices in Piraeus, Greece, Singapore and Monaco. The Company’s vessels are chartered-out under medium to long-term time charters with an average remaining term of approximately three years to a group, including Cosco Bulk Carrier Co. Ltd., Mitsui O.S.K. Lines Ltd., Exelon Corporation, Rio Tinto, Hyundai Merchant Marine Co., Ltd and Mediterranean Shipping Co. S.A.

 

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