Brokerages Anticipate Capital Product Partners L.P. (CPLP) Will Announce Quarterly Sales of $59.70 Million

Equities research analysts predict that Capital Product Partners L.P. (NASDAQ:CPLP) will report $59.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Capital Product Partners’ earnings. The highest sales estimate is $62.58 million and the lowest is $58.18 million. Capital Product Partners posted sales of $60.27 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The firm is expected to announce its next earnings report on Friday, April 27th.

On average, analysts expect that Capital Product Partners will report full year sales of $59.70 million for the current fiscal year, with estimates ranging from $238.84 million to $257.33 million. For the next year, analysts forecast that the business will report sales of $259.24 million per share, with estimates ranging from $241.05 million to $292.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Capital Product Partners.

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Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Wednesday, January 31st. The shipping company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Capital Product Partners had a net margin of 14.31% and a return on equity of 4.30%. The firm had revenue of $64.11 million during the quarter, compared to analyst estimates of $59.70 million.

A number of equities analysts recently weighed in on CPLP shares. Zacks Investment Research lowered shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. BidaskClub lowered shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. ValuEngine lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. TheStreet lowered shares of Capital Product Partners from a “b-” rating to a “c” rating in a report on Friday, February 2nd. Finally, Jefferies Group started coverage on shares of Capital Product Partners in a report on Monday, December 18th. They issued a “buy” rating and a $5.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $4.50.

Shares of CPLP stock traded down $0.05 during midday trading on Wednesday, reaching $3.14. 407,950 shares of the company were exchanged, compared to its average volume of 377,158. Capital Product Partners has a 52 week low of $2.98 and a 52 week high of $4.00. The stock has a market cap of $414.34, a price-to-earnings ratio of 14.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.81 and a current ratio of 0.86.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPLP. Russell Investments Group Ltd. raised its holdings in Capital Product Partners by 210.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 101,677 shares of the shipping company’s stock worth $356,000 after acquiring an additional 68,970 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Capital Product Partners by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 995,961 shares of the shipping company’s stock worth $3,486,000 after acquiring an additional 68,892 shares during the last quarter. Partnervest Advisory Services LLC raised its stake in Capital Product Partners by 12.6% during the 3rd quarter. Partnervest Advisory Services LLC now owns 149,585 shares of the shipping company’s stock valued at $524,000 after buying an additional 16,749 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new stake in Capital Product Partners during the 4th quarter valued at $127,000. Finally, Virtu Financial LLC purchased a new stake in Capital Product Partners during the 4th quarter valued at $182,000. Institutional investors own 18.87% of the company’s stock.

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About Capital Product Partners

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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