| Over a month ago | ||||
Citi analyst Christian… Citi analyst Christian Wetherbee lowered the firm's price target on Navios Acquisition Acquisition to $3.75 from $4.25 and keeps a Neutral rating on the shares following the company's results. The analyst believes liquidity concerns could remain in focus until the "sizable" 2021 maturity is cleared. | ||||
Navios Acquisition is… Navios Acquisition is down -15.5%, or -71c to $3.88. | ||||
Navios Acquisition is… Navios Acquisition is down -10.6%, or -49c to $4.10. | ||||
Navios Acquisition is… Navios Acquisition is down -15.3%, or -70c to $3.89. | ||||
The Board of Directors… The Board of Directors declared a quarterly cash dividend in respect of the third quarter of 2020 of $0.05 per share of common stock which will be paid on February 10, 2021 to stockholders of record as of January 12, 2021. The declaration and payment of any further dividends remain subject to the discretion of the Board of Directors and will depend on, among other things, Navios Acquisition's cash requirements as measured by market opportunities and restrictions under its credit agreements and other debt obligations and such other factors as the Board of Directors may deem advisable. | ||||
Reports Q3 revenue… Reports Q3 revenue $78.8M, two est. $115M .Angeliki Frangou, Chairman and CEO of Navios Acquisition stated, "I am pleased with our results for the third quarter of 2020. During the third quarter, Navios Acquisition reported revenue of $78.8 million and Adjusted EBITDA of $37.1 million. Navios Acquisition also declared a reduced quarterly dividend of $0.05 per share of common stock, representing an annual distribution of $0.20 per share. We reduced our debt by $81.3 million while we also continued to expand our fleet with no capex. In October, we took delivery of the first bareboat charter-in VLCC and expect three more bareboat chartered-in VLCCs to be delivered over time. Three of these vessels have also been chartered out." | |
Navios Maritime… Navios Maritime Acquisition Corporation announced that the Baghdad, a new building VLCC of 313,433 dwt under bareboat lease, was delivered on October 28, 2020 from a Japanese shipyard. The Baghdad has been chartered out to a high-quality counterparty for a ten-year period at a bareboat rate of $27,816 per day. The charter party has an option for an additional five-year period at a bareboat rate of $29,751 per day. |
| Over a quarter ago | ||||
Reports Q2 revenue… Reports Q2 revenue $112.2M, one est. $83M. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, "I am pleased with our results for the second quarter of 2020. During the quarter, Navios Acquisition recorded revenue of $112.2 million, adjusted EBITDA of $72.7 million and adjusted net income of $32.4 million, or $2.03 per share. Our chartering strategy focuses on capturing upside and we earned $20.7 million in profit sharing in the second quarter of 2020. We also declared a quarterly distribution of $0.30 cents per share for the second quarter. During the quarter, we expanded our VLCC fleet by bareboat chartering-in one vessel. We now have bareboat chartered-in four newbuild vessels with in no initial capital outlay. We also successfully liquidated our investment vehicle, Navios Europe II and converted $37.7 million into steel value and cash. For the second half of 2020, we have 74.0% of our available days fixed at an average charter rate of $19,622 per day estimated to generate $116.2 million of revenue. This contracted rate excludes potential profit sharing. Navios Acquisition has 48.1% of available days with market exposure and a breakeven rate of $14,775 per open /floating day. " | ||||
Navios Acquisition is… Navios Acquisition is down -6.6%, or -38c to $5.35. | ||||
Reports Q1 revenue $97.9M… Reports Q1 revenue $97.9M vs. $77.12M last year. Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, "While the humanitarian crises caused by the Pandemic has been heartbreaking, we have also been strengthened by the courage and compassion of the first responders, particularly the many dedicated heath care workers. At any given time, our seagoing vessels carry over 1,000 people. Keeping these people safe and these vessels moving in and out of quarantined countries, with ever-changing rules and problems, requires the immediate input of many disciplines. I am proud of the members of the Navios family as they have shown admirable resilience during this unprecedented time of uncertainty. We have taken the necessary measures to ensure safety of our people while keeping our fleet functioning. I am pleased with our results for the first quarter of 2020. During the quarter, Navios Acquisition recorded revenue of $97.9 million and adjusted EBITDA of $56.2 million, representing increases of about 27% and 36%, respectively, over the first quarter of 2019. Navios Acquisition also recorded adjusted net income of $14.9 million, or $0.95 per share, for the first quarter of 2020. We declared a quarterly distribution of $0.30 per share for the first quarter of 2020." | ||||