Zacks Investment Research Lowers Navios Maritime Partners (NYSE:NMM) to Sell

Navios Maritime Partners (NYSE:NMM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, reports.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Navios Maritime Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Citigroup dropped their price objective on shares of Navios Maritime Partners from $33.75 to $21.50 and set a “neutral” rating on the stock in a report on Friday, September 20th.

Shares of NYSE NMM opened at $17.41 on Wednesday. The firm’s 50-day moving average price is $16.56 and its 200-day moving average price is $9.92. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.63. The company has a market cap of $195.61 million, a PE ratio of 5.37 and a beta of 1.82. Navios Maritime Partners has a 52-week low of $11.43 and a 52-week high of $27.75.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Wednesday, July 31st. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The company had revenue of $47.75 million for the quarter, compared to analysts’ expectations of $44.63 million. Navios Maritime Partners had a negative net margin of 2.36% and a positive return on equity of 2.33%. As a group, equities research analysts anticipate that Navios Maritime Partners will post 2.1 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Navios Maritime Partners stock. BlackRock Inc. acquired a new position in Navios Maritime Partners L.P. (NYSE:NMM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,459 shares of the shipping company’s stock, valued at approximately $276,000. BlackRock Inc. owned about 0.18% of Navios Maritime Partners at the end of the most recent quarter. Institutional investors and hedge funds own 12.03% 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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