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

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.05 per share by the shipping company on Thursday, February 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, February 10th.

Navios Maritime Partners has a dividend payout ratio of 1.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Navios Maritime Partners to earn $13.87 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 1.4%.

Navios Maritime Partners Price Performance

Navios Maritime Partners stock opened at $42.82 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $44.29 and a 200 day moving average price of $50.27. Navios Maritime Partners has a 12-month low of $28.05 and a 12-month high of $65.89. The stock has a market cap of $1.28 billion, a P/E ratio of 3.25 and a beta of 1.93.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing the consensus estimate of $3.80 by ($0.65). The firm had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 EPS. Sell-side analysts anticipate that Navios Maritime Partners will post 11.6 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Navios Maritime Partners from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

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.