Equities analysts predict that Capital Product Partners L.P. (NASDAQ:CPLP) will report sales of $58.59 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Capital Product Partners’ earnings. The lowest sales estimate is $56.04 million and the highest is $60.95 million. Capital Product Partners reported sales of $64.11 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.6%. The company is scheduled to report its next earnings report on Wednesday, January 30th.
According to Zacks, analysts expect that Capital Product Partners will report full year sales of $229.03 million for the current fiscal year, with estimates ranging from $225.10 million to $232.38 million. For the next fiscal year, analysts forecast that the company will report sales of $237.60 million, with estimates ranging from $228.30 million to $257.72 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Capital Product Partners.
CPLP has been the subject of a number of research analyst reports. Janney Montgomery Scott cut Capital Product Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.50 to $3.50 in a report on Wednesday, August 29th. ValuEngine upgraded Capital Product Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. BidaskClub cut Capital Product Partners from a “sell” rating to a “strong sell” rating in a report on Friday, August 10th. Zacks Investment Research cut Capital Product Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, TheStreet cut Capital Product Partners from a “c” rating to a “d+” rating in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.25.
Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors bought a new position in Capital Product Partners during the second quarter worth about $174,000. Russell Investments Group Ltd. bought a new stake in shares of Capital Product Partners during the third quarter worth approximately $185,000. GSA Capital Partners LLP boosted its holdings in shares of Capital Product Partners by 42.0% during the second quarter. GSA Capital Partners LLP now owns 251,899 shares of the shipping company’s stock worth $771,000 after acquiring an additional 74,540 shares during the period. Sei Investments Co. boosted its holdings in shares of Capital Product Partners by 30.5% during the second quarter. Sei Investments Co. now owns 325,579 shares of the shipping company’s stock worth $996,000 after acquiring an additional 76,089 shares during the period. Finally, Eagle Boston Investment Management Inc. boosted its holdings in shares of Capital Product Partners by 7.8% during the second quarter. Eagle Boston Investment Management Inc. now owns 549,425 shares of the shipping company’s stock worth $1,681,000 after acquiring an additional 39,980 shares during the period. Institutional investors and hedge funds own 17.92% of the company’s stock.
Shares of NASDAQ CPLP opened at $2.80 on Wednesday. The stock has a market capitalization of $360.52 million, a PE ratio of 11.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.46 and a quick ratio of 0.38. Capital Product Partners has a fifty-two week low of $2.62 and a fifty-two week high of $3.60.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Monday, November 5th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 11.43%. The ex-dividend date is Friday, November 2nd. Capital Product Partners’s payout ratio is currently 128.00%.
Capital Product Partners Company Profile
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
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