Navios Maritime Midstream Partners LP (NAP) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.28 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $0.33. The company posted revenue of $22.69 million in the period, compared to analysts expectations of $22.97 million. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.
Navios Maritime Midstream Partners LP closed down -0.1 points or -0.78% at $12.7 with 67,273 shares getting traded on Thursday. Post opening the session at $12.69, the shares hit an intraday low of $12.56 and an intraday high of $12.91 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Investors should note that on Jul 21, 2016, Navios Maritime Midstream Partners LP announced a cash dividend of $0.4225. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Aug 12, 2016.
Navios Maritime Midstream Partners L.P. is a holding company. The Company is a limited partnership formed to own operate and acquire crude oil tankers under long-term employment contracts. The Company may also seek to own operate and acquire refined petroleum product tankers chemical tankers and liquefied petroleum gas (LPG) tankers under long-term employment contracts. The Company intends to charter its vessels under long-term employment contracts to international oil companies refiners and large vessel operators. The Company’s fleet consists of four VLCCs which have an average remaining employment term of approximately 7.3 years. They are chartered to two strong counterparties Cosco Dalian which is wholly owned by the COSCO Group a Chinese state-owned enterprise and Formosa Petrochemical. The Company provides seaborne shipping services under long-term time charters. The Company’s customers include Cosco Dalian and Formosa Petrochemical.