Analysts expect Capital Product Partners L.P. (NASDAQ:CPLP) to report earnings per share of $0.06 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Capital Product Partners’ earnings. The highest EPS estimate is $0.11 and the lowest is $0.04. Capital Product Partners also reported earnings of $0.06 per share in the same quarter last year. The business is expected to announce its next earnings results on Wednesday, January 30th.
According to Zacks, analysts expect that Capital Product Partners will report full year earnings of $0.14 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.17. For the next financial year, analysts forecast that the firm will report earnings of $0.17 per share, with EPS estimates ranging from $0.13 to $0.21. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Capital Product Partners.
Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Wednesday, October 31st. The shipping company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Capital Product Partners had a positive return on equity of 2.61% and a negative net margin of 3.33%. The firm had revenue of $58.74 million for the quarter, compared to the consensus estimate of $57.17 million.
A number of research firms have commented on CPLP. B. Riley began coverage on Capital Product Partners in a report on Tuesday. They set a “buy” rating and a $2.75 target price on the stock. BidaskClub downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. TheStreet downgraded Capital Product Partners from a “c” rating to a “d+” rating in a report on Wednesday, October 31st. Finally, Zacks Investment Research downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Capital Product Partners has a consensus rating of “Hold” and a consensus price target of $3.75.
NASDAQ:CPLP traded up $0.05 during trading hours on Wednesday, reaching $2.47. 1,186,857 shares of the stock were exchanged, compared to its average volume of 764,964. The company has a quick ratio of 0.48, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. Capital Product Partners has a 52 week low of $2.24 and a 52 week high of $3.60. The company has a market cap of $312.54 million, a PE ratio of 9.88 and a beta of 1.07.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 12.96%. The ex-dividend date of this dividend was Friday, November 2nd. Capital Product Partners’s dividend payout ratio (DPR) is 128.00%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Boston Investment Management Inc. lifted its holdings in shares of Capital Product Partners by 3.3% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 567,672 shares of the shipping company’s stock worth $1,578,000 after purchasing an additional 18,247 shares during the last quarter. Goodman Financial Corp lifted its holdings in shares of Capital Product Partners by 2.2% in the 3rd quarter. Goodman Financial Corp now owns 947,442 shares of the shipping company’s stock worth $2,634,000 after purchasing an additional 20,602 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Capital Product Partners in the 2nd quarter worth approximately $174,000. Russell Investments Group Ltd. bought a new stake in shares of Capital Product Partners in the 3rd quarter worth approximately $185,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Capital Product Partners by 42.0% in the 2nd quarter. GSA Capital Partners LLP now owns 251,899 shares of the shipping company’s stock worth $771,000 after purchasing an additional 74,540 shares during the last quarter. 16.82% of the stock is currently owned by institutional investors and hedge funds.
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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