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

Navios Maritime Partners L.P. (NYSE:NMM) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis 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

Shares of NYSE:NMM traded up $0.14 on Friday, reaching $42.20. The company’s stock had a trading volume of 122,367 shares, compared to its average volume of 139,288. Navios Maritime Partners has a 52-week low of $27.47 and a 52-week high of $65.89. The company has a market cap of $1.26 billion, a P/E ratio of 3.20 and a beta of 1.97. The company has a 50-day simple moving average of $44.86 and a 200 day simple moving average of $50.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

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 analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. The firm had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. During the same period in the prior year, the firm posted $2.68 earnings per share. Navios Maritime Partners’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Navios Maritime Partners will post 11.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Thursday, January 16th.

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.