Navios Maritime Partners (NMM) Stock Tanks Following Earnings Miss
NEW YORK (TheStreet) -- Shares of Navios Maritime Partners (NMM) - Get Report are down by 16.08% to $5.99 in afternoon trading on Tuesday, following the release of the company's third quarter earnings results.
The Monaco-based dry bulk and container vessel operator reported third quarter earnings of 13 cents per share versus analysts' 17 cents per share expectations.
Revenue for the period rose by 3.3% to $57.1 million, also missing analysts' $58.87 million expectations for the quarter.
The company has reported third quarter EBITDA of $41 million versus $37.37 million for the year ago period.
Separately, TheStreet Ratings team rates NAVIOS MARITIME PARTNERS LP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate NAVIOS MARITIME PARTNERS LP (NMM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
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