Wall Street brokerages forecast that Navios Maritime Partners L.P. (NYSE:NMM) will post $53.79 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Navios Maritime Partners’ earnings. The lowest sales estimate is $45.45 million and the highest is $58.93 million. Navios Maritime Partners posted sales of $59.95 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.3%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 13th.

According to Zacks, analysts expect that Navios Maritime Partners will report full-year sales of $222.55 million for the current year, with estimates ranging from $193.63 million to $244.60 million. For the next financial year, analysts forecast that the firm will post sales of $220.88 million per share, with estimates ranging from $179.43 million to $246.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Navios Maritime Partners.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Wednesday, August 1st. The shipping company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Navios Maritime Partners had a negative net margin of 16.31% and a positive return on equity of 3.98%. The business had revenue of $58.20 million during the quarter, compared to analyst estimates of $57.07 million.

Several brokerages recently commented on NMM. Zacks Investment Research upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Wednesday, July 11th. ValuEngine downgraded shares of Navios Maritime Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Finally, Morgan Stanley reduced their price target on shares of Navios Maritime Partners from $2.20 to $1.80 and set an “underweight” rating for the company in a research report on Tuesday, April 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Navios Maritime Partners presently has an average rating of “Hold” and an average price target of $2.31.

Shares of NYSE:NMM traded down $0.01 during mid-day trading on Tuesday, hitting $2.00. The stock had a trading volume of 480,716 shares, compared to its average volume of 385,582. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.53 and a current ratio of 1.92. The company has a market cap of $336.86 million, a PE ratio of 10.58 and a beta of 1.59. Navios Maritime Partners has a 12-month low of $1.61 and a 12-month high of $2.62.

The company also recently declared a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Tuesday, August 7th were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.08 annualized dividend and a dividend yield of 4.00%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 50.00%.

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in Navios Maritime Partners by 173.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,066,700 shares of the shipping company’s stock valued at $2,517,000 after buying an additional 676,900 shares during the period. Deutsche Bank AG acquired a new position in Navios Maritime Partners in the 4th quarter valued at approximately $220,000. Two Sigma Investments LP increased its stake in Navios Maritime Partners by 83.9% in the 4th quarter. Two Sigma Investments LP now owns 379,014 shares of the shipping company’s stock valued at $894,000 after buying an additional 172,914 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Navios Maritime Partners by 137.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 109,356 shares of the shipping company’s stock valued at $257,000 after buying an additional 63,312 shares during the period. Finally, LPL Financial LLC increased its stake in Navios Maritime Partners by 115.2% in the 4th quarter. LPL Financial LLC now owns 56,049 shares of the shipping company’s stock valued at $132,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 19.68% of the company’s stock.

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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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