The Navios Maritime Holdings Inc. (NM) Downgraded to “Sell” at Zacks Investment Research

The Navios Maritime Holdings Inc. (NM) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Navios Maritime Holdings Inc. (NYSE:NM) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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. “

Several other research analysts also recently weighed in on the company. ValuEngine downgraded Navios Maritime Holdings from a hold rating to a sell rating in a research note on Friday, September 1st. Clarkson Capital cut Navios Maritime Holdings from a buy rating to a neutral rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has a consensus rating of Sell and an average price target of $1.25.

Navios Maritime Holdings (NYSE NM) traded down 3.83% during midday trading on Wednesday, hitting $1.76. The stock had a trading volume of 336,788 shares. The company has a 50-day moving average price of $1.72 and a 200-day moving average price of $1.47. Navios Maritime Holdings has a 52 week low of $0.95 and a 52 week high of $2.40. The stock’s market cap is $204.25 million.

Navios Maritime Holdings (NYSE:NM) last posted its quarterly earnings results on Tuesday, August 22nd. The shipping company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $118.60 million during the quarter, compared to the consensus estimate of $114.27 million. Navios Maritime Holdings had a negative return on equity of 14.37% and a negative net margin of 22.05%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) EPS. Equities analysts expect that Navios Maritime Holdings will post ($0.94) EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in Navios Maritime Holdings during the 2nd quarter worth about $218,000. State Street Corp lifted its holdings in Navios Maritime Holdings by 2,467.0% during the 2nd quarter. State Street Corp now owns 1,012,873 shares of the shipping company’s stock worth $1,388,000 after purchasing an additional 973,416 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Navios Maritime Holdings by 2.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 881,941 shares of the shipping company’s stock worth $1,208,000 after purchasing an additional 23,789 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Navios Maritime Holdings during the 2nd quarter worth about $250,000. Finally, Advisor Group Inc. lifted its holdings in Navios Maritime Holdings by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 1,135,750 shares of the shipping company’s stock worth $1,555,000 after purchasing an additional 42,750 shares in the last quarter. 21.08% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Holdings

Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.

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