Navios Maritime Acquisition Co. (NYSE:NNA) announced a quarterly dividend on Wednesday, February 7th, Zacks reports. Investors of record on Thursday, March 22nd will be given a dividend of 0.02 per share by the shipping company on Tuesday, March 27th. This represents a $0.08 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date is Wednesday, March 21st.
Navios Maritime Acquisition has a payout ratio of -333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Navios Maritime Acquisition to earn $0.03 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 666.7%.
Shares of Navios Maritime Acquisition (NYSE NNA) opened at $0.84 on Friday. The company has a quick ratio of 0.92, a current ratio of 3.13 and a debt-to-equity ratio of 2.30. Navios Maritime Acquisition has a 12 month low of $0.67 and a 12 month high of $1.76.
Navios Maritime Acquisition (NYSE:NNA) last announced its earnings results on Wednesday, February 7th. The shipping company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Navios Maritime Acquisition had a negative net margin of 34.67% and a negative return on equity of 3.81%. The firm had revenue of $44.20 million during the quarter, compared to analysts’ expectations of $53.63 million. research analysts forecast that Navios Maritime Acquisition will post -0.21 earnings per share for the current year.
A hedge fund recently raised its stake in Navios Maritime Acquisition stock. Vanguard Group Inc. lifted its stake in Navios Maritime Acquisition Co. (NYSE:NNA) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,307 shares of the shipping company’s stock after purchasing an additional 3,730 shares during the period. Vanguard Group Inc. owned about 0.11% of Navios Maritime Acquisition worth $242,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.52% of the company’s stock.
Navios Maritime Acquisition announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 7th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the shipping company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Navios Maritime Acquisition from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Navios Maritime Acquisition in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Navios Maritime Acquisition currently has a consensus rating of “Hold” and a consensus price target of $1.63.
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About Navios Maritime Acquisition
Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters.
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