Navios Maritime Partners L.P. (NMM) Shares Plunge on Earnings Miss

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Shares of Navios Maritime Partners L.P. (NYSE:NMM) have taken a steep hit today, after the company reported their Fourth Quarter and Year End numbers. Net Income for the quarter came in at $41.8 million for the year, and $7.8 million for the quarter, while EBITDA came in at $153.3 million for the year and $35.7 million for the quarter.

The stock has taken a hit because the company reported earnings per share of just $0.09, which fell short of Wall Street’s forecast of $0.15 by quite a large margin. Additionally, Navios Maritime Partners L.P. (NYSE:NMM) reported earnings of $53.31 million for the quarter, and this too fell well short of Wall Street’s expectations of $59.63 million. Revenue for the quarter fell 10.2% year over year.

From a total of 4 analysts covering Navios Maritime Partners (NYSE:NMM) stock, 2 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 50% of the ratings are positive. The highest target price is $9 while the lowest target price is $5. The mean of all analyst targets is $6.75 which is 407.52% above today’s ($1.33) stock price. Navios Maritime Partners was the topic of 6 analyst reports since September 17, 2015 according to the firm StockzIntelligence Inc. JP Morgan upgraded shares on January 26 to a “Overweight” rating. JP Morgan initiated shares with a”Underweight” rating and a $5 target share price in their report from an October 15.

Navios Maritime Partners L.P. is an international owner and operator of dry bulk and container vessels formed by Navios Holdings, which is a vertically integrated seaborne shipping company. The company has a market cap of $116.37 million. The Firm is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain, fertilizer and also containers, chartering its vessels under medium to long-term charters. It has 2.4 P/E ratio. The activities of Navios Partners are managed by Navios ShipManagement Inc., which is a subsidiary of Navios Holdings (the Manager), from its offices in Piraeus, Greece, Singapore and Monaco.

#focuskw=’Navios Maritime Partners L.P. (NYSE:NMM)’##metadesc=’Shares of Navios Maritime Partners L.P. (NYSE:NMM) have taken a steep hit today, after the company reported their Fourth Quarter and Year End numbers. Net Income for the quarter came in at $41.8 million for the year, and $7.8 million for the quarter, while EBITDA came in at $153.3 million for the year and $35.7 million for the quarter.

The stock has taken a hit because the company reported earnings per share of just $0.09, which fell short of Wall Street’s forecast of $0.15 by quite a large margin. Additionally, Navios Maritime Partners L.P. (NYSE:NMM) reported earnings of $53.31 million for the quarter, and this too fell well short of Wall Street’s expectations of $59.63 million. Revenue for the quarter fell 10.2% year over year.

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