On January 13, 2017, Credit Suisse downgraded Navios Maritime Midstream Partners (NAP) to “neutral” from “outperform” and decreased the target price to $12 from $13. Only five analysts give recommendations on Navios Maritime Partners. According to Reuters, the consensus rating for the stock is 2.6, which means a “hold.” One analyst has given a “strong buy” and the other four analysts have suggested “hold” for the company. None of the analysts have given the company “sell” or “strong sell” recommendations. Peers Frontline (FRO) and DHT Holdings (DHT) also have not received a single “strong sell” rating, while Nordic American Tankers (NAT) and Teekay Tankers (TNK) have. The consensus target price for NAP is $11.75, which implies an upside of 2.3%.
Revenue and earnings estimate
Wall Street analysts estimate that Navios Maritime Partners’ (NAP) revenue will be ~$23 million in the fourth quarter, compared with $22 million in 3Q16 and ~$25 million in 4Q15. Navios Maritime Midstream Partners will have very stable revenue in the upcoming quarters due to its time charter contracts. The company has long-term contracts, and its vessels were 100% booked in 2016 and will be in 2017 as well. It expects to generate $94.5 million, $86.6 million, and $86.2 million in revenue for 2016, 2017, and 2018, respectively.
Analysts expect the company’s 4Q16 EBITDA (earnings before interest, tax, depreciation, and amortization) to be $16 million, compared with $15 million in 3Q16 and $19 million in 4Q15. Analysts expect fiscal 2016 EBITDA to be $64 million, compared with $60 million in 2015.