Jefferies Financial Group Boosts Navios Maritime Partners (NYSE:NMM) Price Target to $80.00

Navios Maritime Partners (NYSE:NMM) had its price target increased by Jefferies Financial Group from $65.00 to $80.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the shipping company’s stock.

Separately, StockNews.com upgraded Navios Maritime Partners from a hold rating to a buy rating in a report on Wednesday, August 21st.

Navios Maritime Partners Trading Down 0.4 %

Shares of NYSE:NMM opened at $57.10 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 4.31 and a beta of 1.97. Navios Maritime Partners has a 1-year low of $21.18 and a 1-year high of $58.22. The company has a 50 day moving average price of $50.09 and a 200 day moving average price of $47.57.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.22. The business had revenue of $342.20 million during the quarter, compared to analyst estimates of $312.39 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.28%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $3.32 EPS. On average, research analysts anticipate that Navios Maritime Partners will post 14.8 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s payout ratio is 1.51%.

Institutional Trading of Navios Maritime Partners

Several hedge funds and other institutional investors have recently modified their holdings of NMM. BNP Paribas Financial Markets raised its position in Navios Maritime Partners by 30,700.0% during the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock valued at $53,000 after buying an additional 1,228 shares during the period. Westhampton Capital LLC acquired a new position in shares of Navios Maritime Partners in the 1st quarter valued at about $241,000. Aristides Capital LLC acquired a new position in shares of Navios Maritime Partners in the 1st quarter valued at about $361,000. Tactive Advisors LLC purchased a new stake in shares of Navios Maritime Partners in the first quarter worth approximately $442,000. Finally, Virtu Financial LLC acquired a new stake in shares of Navios Maritime Partners during the first quarter worth approximately $452,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

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.