Navios Maritime Partners (NYSE:NMM) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a strong-buy rating in a report published on Saturday.

Separately, Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Navios Maritime Partners Price Performance

NMM opened at $64.63 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The company’s 50-day simple moving average is $62.61 and its two-hundred day simple moving average is $54.19. Navios Maritime Partners has a 52-week low of $28.37 and a 52-week high of $74.21. The stock has a market capitalization of $1.85 billion, a P/E ratio of 6.73 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the company posted $2.61 earnings per share. Navios Maritime Partners’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts predict that Navios Maritime Partners will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.08%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors have recently modified their holdings of the stock. Arbiter Partners Capital Management LLC purchased a new position in shares of Navios Maritime Partners during the third quarter valued at $1,117,000. Aristides Capital LLC purchased a new stake in Navios Maritime Partners during the second quarter worth $228,000. ING Groep NV boosted its position in Navios Maritime Partners by 123.6% during the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after purchasing an additional 53,400 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Navios Maritime Partners in the 2nd quarter worth approximately $47,000. Finally, TD Waterhouse Canada Inc. purchased a new position in Navios Maritime Partners in the second quarter worth $62,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.