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

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Monday, February 10th will be given a dividend of 0.05 per share by the shipping company on Thursday, February 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, February 10th.

Navios Maritime Partners has a payout ratio of 1.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Navios Maritime Partners to earn $13.87 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 1.4%.

Navios Maritime Partners Stock Up 0.3 %

Shares of NYSE NMM traded up $0.14 on Friday, reaching $42.20. 122,367 shares of the company’s stock traded hands, compared to its average volume of 139,288. Navios Maritime Partners has a 12 month low of $27.47 and a 12 month high of $65.89. The business’s 50 day simple moving average is $44.86 and its two-hundred day simple moving average is $50.51. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 3.20 and a beta of 1.97. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The business had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. During the same period in the prior year, the business posted $2.68 EPS. Navios Maritime Partners’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Navios Maritime Partners will post 11.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Thursday, January 16th.

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.