Navios Maritime Partners L.P. (NYSE:NMM) Plans $0.05 Quarterly Dividend

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.05 per share by the shipping company on Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, November 12th.

Navios Maritime Partners has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Navios Maritime Partners to earn $18.18 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 1.1%.

Navios Maritime Partners Trading Down 0.2 %

NMM stock opened at $53.52 on Friday. Navios Maritime Partners has a one year low of $21.18 and a one year high of $65.89. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 4.06 and a beta of 1.99. The company has a fifty day moving average price of $57.38 and a two-hundred day moving average price of $51.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing the consensus estimate of $3.80 by ($0.65). The company had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.48%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 EPS. Equities analysts anticipate that Navios Maritime Partners will post 12.37 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on NMM. Jefferies Financial Group lifted their price target on Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.