StockNews.com Initiates Coverage on Capital Product Partners (NASDAQ:CPLP)

Research analysts at StockNews.com started coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a report issued on Thursday. The firm set a “hold” rating on the shipping company’s stock.

Capital Product Partners Trading Up 2.1 %

Shares of CPLP stock opened at $16.77 on Thursday. Capital Product Partners has a 12-month low of $12.70 and a 12-month high of $18.85. The company has a market capitalization of $928.86 million, a P/E ratio of 7.32 and a beta of 0.87. The firm has a 50-day moving average price of $16.55 and a 200 day moving average price of $16.92. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 1.48.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Friday, August 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.23. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. The firm had revenue of $97.67 million during the quarter, compared to the consensus estimate of $90.22 million. During the same period last year, the firm posted $0.36 EPS. Research analysts forecast that Capital Product Partners will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,697 shares of the shipping company’s stock after acquiring an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.91% of Capital Product Partners worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.