Capital Product Partners L.P. (NASDAQ:CPLP) Announces $0.15 Quarterly Dividend

Capital Product Partners L.P. (NASDAQ:CPLP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.15 per share by the shipping company on Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, May 6th.

Capital Product Partners has decreased its dividend by an average of 12.6% annually over the last three years. Capital Product Partners has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Capital Product Partners to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.5%.

Capital Product Partners Price Performance

CPLP stock traded up $0.45 during mid-day trading on Friday, reaching $16.65. The company’s stock had a trading volume of 17,519 shares, compared to its average volume of 20,999. The stock has a market cap of $342.99 million, a PE ratio of 7.67 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. Capital Product Partners has a fifty-two week low of $12.02 and a fifty-two week high of $18.85. The company’s 50 day moving average is $17.35 and its two-hundred day moving average is $15.90.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. The firm had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts expect that Capital Product Partners will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

CPLP has been the subject of a number of research analyst reports. B. Riley increased their price target on Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Stifel Nicolaus lowered their price target on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.67.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.