Go read the investor presentation. There was only 80% coverage due to the late delivery of ships. Now that the ships have been delivered, the coverage is 104%. I too was concerned until I found that out.
The only real promising take away I could glean from the earnings report was this: "The average expected daily charter-out rate for the fleet is $21,265, $28,108 and $32,633 for 2015, 2016 and 2017, respectively." Of course there is that dangerous little word "expected," but if true, earnings will jump big time in 2016. As for this year; $0.13 looks to be the norm, although the new ships might get it up to $0.15.
Hopefully after the sell-off today on poor earnings, we can still run up to the distribution in a week. Hopefully we will still be able to get above $13.50 by then. $14 may be a long shot now.
The only sort of good thing was that the cash available for distribution has gone up from $35,474K to $38,097K. But since $10,502K of that was cash reserves, maybe its not so good.
And there could be future deals such as this. Navios has a strong financial position and strong management. Banks know nothing about the ships they are getting stuck with as collateral when weaker players fail; therefore they are turning to Navios.
Of course if worldwide shipping never recovers, Navios too will go down. But if one believes that world trade will only grow, eventually the entire sector will recover and companies such as Navios who bought ships at fire sale prices will benefit.
Finally, we broke through the $13.09 over-head resistance level and closed near the highs of the day.
Now we can start speculating about the next over-head resistance level at around $14.14. Can we hit that level before the distribution?
I'd think that depends on Monday. Will Angeliki give excellent forward guidance?
Someone is attempting to push the stock up above the $13.09 resistance level before earnings are released. I sure hope that they succeed.
If so, and if earnings are OK, and then Angeliki gives great forward guidance on the CC; we could easily see $14 ... or do I dare even say $15 next week.
I'm glad I placed my bets under $10!
Now we have two week to see if we can break through resistance @$13.09. May 4th may be key. If earnings are good and the conference call goes well, I think we will.
MONACO--(Marketwired - Apr 28, 2015) - Navios Maritime Partners L.P. ("Navios Partners") (NYSE: NMM), announced today that its Board of Directors has declared a cash distribution of $0.4425 per unit for the quarter ended March 31, 2015. This distribution represents an annualized distribution of $1.77 per unit.
The cash distribution will be payable on May 14, 2015 to unit holders of record as of May 13, 2015.
Well, we hit over-head resistance yet again near $13.09 and have dropped back a step.
To me everything remains to be all about $13.09 - do we continue to bounce off the glass ceiling or break through