Brokerages Expect Capital Product Partners L.P. (CPLP) Will Announce Earnings of $0.06 Per Share

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Equities research analysts expect Capital Product Partners L.P. (NASDAQ:CPLP) to post earnings per share of $0.06 for the current quarter, according to Zacks. Four analysts have made estimates for Capital Product Partners’ earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.09. Capital Product Partners also reported earnings per share of $0.06 in the same quarter last year. The company is expected to issue its next quarterly earnings results on Wednesday, January 30th.

On average, analysts expect that Capital Product Partners will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.11 to $0.17. For the next financial year, analysts anticipate that the business will report earnings of $0.26 per share, with EPS estimates ranging from $0.16 to $0.38. Zacks’ EPS averages are an average based on a survey of research analysts that cover Capital Product Partners.

CPLP has been the subject of a number of research reports. BidaskClub raised shares of Capital Product Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Zacks Investment Research downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. ValuEngine raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. TheStreet downgraded shares of Capital Product Partners from a “c” rating to a “d+” rating in a report on Wednesday, October 31st. Finally, Janney Montgomery Scott downgraded shares of Capital Product Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $4.50 to $3.50 in a report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Capital Product Partners has a consensus rating of “Hold” and a consensus price target of $4.25.

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in shares of Capital Product Partners during the second quarter valued at $174,000. Russell Investments Group Ltd. acquired a new position in shares of Capital Product Partners during the third quarter valued at $185,000. GSA Capital Partners LLP boosted its holdings in shares of Capital Product Partners by 42.0% during the second quarter. GSA Capital Partners LLP now owns 251,899 shares of the shipping company’s stock valued at $771,000 after acquiring an additional 74,540 shares during the period. Sei Investments Co. boosted its holdings in shares of Capital Product Partners by 30.5% during the second quarter. Sei Investments Co. now owns 325,579 shares of the shipping company’s stock valued at $996,000 after acquiring an additional 76,089 shares during the period. Finally, Eagle Boston Investment Management Inc. boosted its holdings in shares of Capital Product Partners by 3.3% during the third quarter. Eagle Boston Investment Management Inc. now owns 567,672 shares of the shipping company’s stock valued at $1,578,000 after acquiring an additional 18,247 shares during the period. 17.92% of the stock is owned by hedge funds and other institutional investors.

Shares of CPLP traded down $0.08 during mid-day trading on Monday, reaching $2.75. 339,755 shares of the stock traded hands, compared to its average volume of 412,238. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $367.01 million, a P/E ratio of 11.00 and a beta of 1.08. Capital Product Partners has a 12-month low of $2.62 and a 12-month high of $3.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Monday, November 5th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 11.64%. The ex-dividend date is Friday, November 2nd. Capital Product Partners’s dividend payout ratio is presently 128.00%.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.

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