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

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.05 per share by the shipping company on Friday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, November 12th.

Navios Maritime Partners has decreased its dividend payment by an average of 34.1% annually over the last three years. Navios Maritime Partners has a dividend payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navios Maritime Partners to earn $19.64 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 1.0%.

Navios Maritime Partners Price Performance

Shares of NYSE NMM opened at $53.33 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $57.22 and a two-hundred day simple moving average of $51.07. Navios Maritime Partners has a fifty-two week low of $21.18 and a fifty-two week high of $65.89. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 4.14 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a return on equity of 13.63% and a net margin of 30.28%. The company had revenue of $342.20 million during the quarter, compared to analyst estimates of $312.39 million. During the same quarter last year, the company earned $3.32 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Navios Maritime Partners will post 13.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

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.