Capital Product Partners L.P. (NASDAQ:CPLP) Expected to Post Earnings of $0.28 Per Share

Brokerages expect that Capital Product Partners L.P. (NASDAQ:CPLP) will announce earnings of $0.28 per share for the current quarter, Zacks reports. Three analysts have made estimates for Capital Product Partners’ earnings, with estimates ranging from $0.16 to $0.41. Capital Product Partners posted earnings of $0.56 per share during the same quarter last year, which indicates a negative year over year growth rate of 50%. The firm is expected to issue its next quarterly earnings results on Thursday, January 30th.

On average, analysts expect that Capital Product Partners will report full year earnings of $0.89 per share for the current financial year, with EPS estimates ranging from $0.69 to $1.19. For the next year, analysts forecast that the firm will report earnings of $1.90 per share, with EPS estimates ranging from $1.56 to $2.14. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Thursday, October 31st. The shipping company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.22). The company had revenue of $25.71 million for the quarter, compared to the consensus estimate of $26.22 million. Capital Product Partners had a positive return on equity of 6.40% and a negative net margin of 73.89%.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Capital Product Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 19th. TheStreet upgraded Capital Product Partners from a “d+” rating to a “c-” rating in a research report on Monday, October 14th. Finally, ValuEngine raised Capital Product Partners from a “sell” rating to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.67.

Shares of Capital Product Partners stock traded up $0.08 on Friday, hitting $11.78. The stock had a trading volume of 174 shares, compared to its average volume of 79,995. The stock has a market cap of $209.77 million, a price-to-earnings ratio of 11.98 and a beta of 1.07. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Capital Product Partners has a twelve month low of $9.68 and a twelve month high of $17.64. The business’s 50 day moving average is $11.64 and its two-hundred day moving average is $10.90.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.26 dividend on an annualized basis and a dividend yield of 10.70%. Capital Product Partners’s payout ratio is presently 128.57%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in shares of Capital Product Partners by 6.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 718,620 shares of the shipping company’s stock valued at $7,689,000 after acquiring an additional 42,138 shares during the period. Arrow Investment Advisors LLC increased its holdings in Capital Product Partners by 44.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 40,889 shares of the shipping company’s stock valued at $438,000 after buying an additional 12,676 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Capital Product Partners in the 3rd quarter valued at approximately $160,000. BlackRock Inc. boosted its position in shares of Capital Product Partners by 2,993.7% during the 2nd quarter. BlackRock Inc. now owns 74,743 shares of the shipping company’s stock worth $785,000 after acquiring an additional 72,327 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Capital Product Partners by 731.0% during the 2nd quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock worth $293,000 after acquiring an additional 24,497 shares in the last quarter. 20.07% of the stock is currently owned by institutional investors.

About Capital Product Partners

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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Earnings History and Estimates for Capital Product Partners (NASDAQ:CPLP)

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