Navios Maritime (NM) Rating Increased to Hold at Zacks Investment Research

Navios Maritime (NYSE:NM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

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Several other research firms have also recently commented on NM. ValuEngine raised shares of Navios Maritime from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 8th. Clarkson Capital raised shares of Navios Maritime from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase cut shares of Navios Maritime from a “neutral” rating to an “underweight” rating in a research note on Friday, March 23rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Navios Maritime presently has a consensus rating of “Hold” and a consensus target price of $1.58.

Shares of NYSE:NM opened at $0.78 on Tuesday. The stock has a market capitalization of $97.11 million, a P/E ratio of -0.77 and a beta of 2.69. Navios Maritime has a fifty-two week low of $0.77 and a fifty-two week high of $0.80. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.96 and a current ratio of 1.08.

Navios Maritime (NYSE:NM) last issued its quarterly earnings data on Tuesday, May 15th. The shipping company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.04). The firm had revenue of $116.88 million during the quarter, compared to the consensus estimate of $128.39 million. Navios Maritime had a negative net margin of 37.28% and a negative return on equity of 16.17%. research analysts expect that Navios Maritime will post -0.86 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. increased its stake in Navios Maritime by 91.7% during the 1st quarter. PenderFund Capital Management Ltd. now owns 2,993,001 shares of the shipping company’s stock valued at $2,454,000 after buying an additional 1,432,039 shares during the period. Royce & Associates LP increased its stake in Navios Maritime by 13.4% during the 4th quarter. Royce & Associates LP now owns 1,951,349 shares of the shipping company’s stock valued at $2,342,000 after buying an additional 230,000 shares during the period. Renaissance Technologies LLC increased its stake in Navios Maritime by 10.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,724,002 shares of the shipping company’s stock valued at $2,069,000 after buying an additional 157,100 shares during the period. Jefferies Group LLC increased its stake in Navios Maritime by 109.7% during the 4th quarter. Jefferies Group LLC now owns 1,504,542 shares of the shipping company’s stock valued at $1,805,000 after buying an additional 787,238 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Navios Maritime during the 1st quarter valued at about $279,000. 24.65% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Company Profile

Navios Maritime Holdings Inc operates as a seaborne shipping and logistics company in North America, Europe, Asia, South America, and internationally. The company focuses on the transportation and transshipment of dry bulk commodities, including iron ores, coal, and grains. It operates through two segments, Dry Bulk Vessel Operations and Logistics Business.

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