$26.22 Million in Sales Expected for Capital Product Partners L.P. (NASDAQ:CPLP) This Quarter

Wall Street analysts expect that Capital Product Partners L.P. (NASDAQ:CPLP) will announce $26.22 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Capital Product Partners’ earnings, with estimates ranging from $24.27 million to $27.57 million. Capital Product Partners reported sales of $58.74 million during the same quarter last year, which would suggest a negative year over year growth rate of 55.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Capital Product Partners will report full year sales of $105.52 million for the current financial year, with estimates ranging from $101.02 million to $108.86 million. For the next year, analysts anticipate that the company will report sales of $111.27 million, with estimates ranging from $107.73 million to $118.45 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $26.83 million during the quarter, compared to analysts’ expectations of $27.32 million. Capital Product Partners had a negative net margin of 69.36% and a positive return on equity of 5.70%.

Separately, Zacks Investment Research raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Two 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 currently has a consensus rating of “Hold” and an average target price of $15.67.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in Capital Product Partners by 731.0% during the second quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock valued at $293,000 after acquiring an additional 24,497 shares in the last quarter. Concorde Asset Management LLC purchased a new position in shares of Capital Product Partners in the 2nd quarter worth $425,000. Russell Investments Group Ltd. grew its stake in shares of Capital Product Partners by 1,045.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 109,194 shares of the shipping company’s stock worth $1,147,000 after buying an additional 99,665 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Capital Product Partners by 494.9% in the 2nd quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock worth $248,000 after buying an additional 19,627 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Capital Product Partners by 386.2% in the 2nd quarter. Morgan Stanley now owns 242,365 shares of the shipping company’s stock worth $2,544,000 after buying an additional 192,516 shares in the last quarter. 21.43% of the stock is owned by institutional investors.

Shares of NASDAQ CPLP traded up $0.08 during midday trading on Tuesday, reaching $10.67. The stock had a trading volume of 968 shares, compared to its average volume of 52,021. The stock has a 50-day moving average of $10.58 and a 200-day moving average of $9.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market capitalization of $192.89 million, a price-to-earnings ratio of 10.87 and a beta of 1.01. Capital Product Partners has a 12-month low of $9.68 and a 12-month high of $20.44.

Capital Product Partners Company Profile

Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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