Capital Product Partners L.P. (CPLP) Receives $4.75 Consensus PT from Analysts

Shares of Capital Product Partners L.P. (NASDAQ:CPLP) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $4.75.

Several analysts recently weighed in on the stock. BidaskClub cut shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine raised shares of Capital Product Partners L.P. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. UBS AG reissued a “neutral” rating and set a $4.00 price objective (down previously from $4.50) on shares of Capital Product Partners L.P. in a report on Wednesday, August 9th. TheStreet raised shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research lowered shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th.

A number of hedge funds have recently made changes to their positions in the stock. Goodman Financial Corp purchased a new stake in Capital Product Partners L.P. in the 3rd quarter valued at about $2,768,000. Susquehanna International Group LLP grew its holdings in shares of Capital Product Partners L.P. by 354.2% during the 2nd 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 period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Capital Product Partners L.P. by 0.8% during the 2nd 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 period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Capital Product Partners L.P. during the 2nd quarter worth about $3,202,000. Finally, Citadel Advisors LLC grew its holdings in shares of Capital Product Partners L.P. by 60.6% during the 2nd 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 period. 18.20% of the stock is owned by hedge funds and other institutional investors.

Shares of Capital Product Partners L.P. (CPLP) traded down $0.05 on Thursday, hitting $3.27. 606,531 shares of the company were exchanged, compared to its average volume of 389,984. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.81 and a quick ratio of 0.97. The stock has a market capitalization of $413.51, a price-to-earnings ratio of 11.68 and a beta of 1.64. Capital Product Partners L.P. has a 12-month low of $2.73 and a 12-month high of $4.00.

Capital Product Partners L.P. (NASDAQ:CPLP) last announced its earnings results on Friday, October 27th. The shipping company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $62.68 million during the quarter, compared to analyst estimates of $59.71 million. Capital Product Partners L.P. had a net margin of 17.17% and a return on equity of 4.70%. equities analysts anticipate that Capital Product Partners L.P. will post 0.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 9.79%. The ex-dividend date is Thursday, November 2nd. Capital Product Partners L.P.’s dividend payout ratio (DPR) is presently 114.29%.

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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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