Jefferies Group Brokers Decrease Earnings Estimates for Capital Product Partners L.P. (CPLP)

Capital Product Partners L.P. (NASDAQ:CPLP) – Analysts at Jefferies Group lowered their FY2017 EPS estimates for shares of Capital Product Partners L.P. in a report released on Monday. Jefferies Group analyst D. Mavrinac now expects that the shipping company will earn $0.24 per share for the year, down from their previous estimate of $0.26.

CPLP has been the topic of a number of other research reports. BidaskClub downgraded Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. ValuEngine upgraded Capital Product Partners L.P. from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. UBS AG restated a “neutral” rating and set a $4.00 price target (down previously from $4.50) on shares of Capital Product Partners L.P. in a research report on Wednesday, August 9th. TheStreet upgraded Capital Product Partners L.P. from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research downgraded Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Capital Product Partners L.P. has a consensus rating of “Hold” and a consensus target price of $4.75.

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Capital Product Partners L.P. (NASDAQ:CPLP) last issued its quarterly earnings data on Friday, October 27th. The shipping company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $62.68 million for the quarter, compared to analyst estimates of $59.71 million. Capital Product Partners L.P. had a return on equity of 4.70% and a net margin of 17.17%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.32 annualized dividend and a dividend yield of 9.36%. Capital Product Partners L.P.’s payout ratio is presently 114.29%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its stake in shares of Capital Product Partners L.P. by 354.2% in the second quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock worth $497,000 after purchasing an additional 114,028 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Capital Product Partners L.P. by 0.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock worth $225,000 after purchasing an additional 523 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Capital Product Partners L.P. in the second quarter worth about $3,202,000. Citadel Advisors LLC grew its stake in shares of Capital Product Partners L.P. by 60.6% in the second quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock worth $147,000 after purchasing an additional 16,318 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Capital Product Partners L.P. in the second quarter worth about $237,000. 18.20% of the stock is currently owned by institutional investors.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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