Analysts predict that Capital Product Partners L.P. (NASDAQ:CPLP) will report earnings of $0.40 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Capital Product Partners’ earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.45. Capital Product Partners reported earnings of $0.21 per share during the same quarter last year, which suggests a positive year over year growth rate of 90.5%. The firm is scheduled to report its next earnings report on Wednesday, October 30th.
On average, analysts expect that Capital Product Partners will report full year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $1.26. For the next financial year, analysts forecast that the business will post earnings of $2.03 per share, with EPS estimates ranging from $1.82 to $2.30. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Capital Product Partners.
Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $26.83 million for the quarter, compared to analyst estimates of $27.32 million. Capital Product Partners had a negative net margin of 69.36% and a positive return on equity of 5.70%.
Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Capital Product Partners by 410.5% in the 2nd quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 7,491 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Capital Product Partners in the 2nd quarter valued at approximately $110,000. HighTower Advisors LLC acquired a new position in shares of Capital Product Partners in the 2nd quarter valued at approximately $230,000. Royal Bank of Canada grew its position 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 valued at $248,000 after purchasing an additional 19,627 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Capital Product Partners by 731.0% in the 2nd quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 24,497 shares during the period. 21.43% of the stock is owned by institutional investors.
CPLP opened at $11.83 on Tuesday. Capital Product Partners has a fifty-two week low of $9.68 and a fifty-two week high of $19.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 1.30. The firm’s fifty day moving average price is $10.85 and its two-hundred day moving average price is $10.74. The company has a market capitalization of $215.23 million, a P/E ratio of 12.07 and a beta of 1.00.
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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