Capital Product Partners L.P. (NASDAQ:CPLP) Expected to Announce Earnings of $0.67 Per Share

Wall Street brokerages expect that Capital Product Partners L.P. (NASDAQ:CPLP) will report earnings of $0.67 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Capital Product Partners’ earnings. The lowest EPS estimate is $0.43 and the highest is $0.80. Capital Product Partners posted earnings of $0.38 per share during the same quarter last year, which suggests a positive year over year growth rate of 76.3%. The company is expected to report its next earnings report on Friday, February 4th.

On average, analysts expect that Capital Product Partners will report full-year earnings of $2.39 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.52. For the next financial year, analysts anticipate that the company will report earnings of $4.50 per share, with EPS estimates ranging from $3.88 to $5.18. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Thursday, November 4th. The shipping company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The firm had revenue of $40.09 million for the quarter, compared to the consensus estimate of $36.25 million. Capital Product Partners had a return on equity of 8.66% and a net margin of 41.21%. During the same quarter in the previous year, the company posted $0.41 EPS.

A number of research firms recently issued reports on CPLP. B. Riley boosted their price objective on Capital Product Partners from $16.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Zacks Investment Research cut Capital Product Partners from a “strong-buy” rating to a “hold” rating in a report on Monday.

Several hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP lifted its holdings in shares of Capital Product Partners by 116.6% in the 3rd quarter. Two Sigma Advisers LP now owns 170,129 shares of the shipping company’s stock worth $2,212,000 after buying an additional 91,600 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Capital Product Partners by 106.6% in the 3rd quarter. Two Sigma Investments LP now owns 155,369 shares of the shipping company’s stock worth $2,020,000 after buying an additional 80,165 shares during the period. LPL Financial LLC lifted its holdings in shares of Capital Product Partners by 3.0% in the 3rd quarter. LPL Financial LLC now owns 24,255 shares of the shipping company’s stock worth $315,000 after buying an additional 705 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Capital Product Partners in the 3rd quarter worth $217,000. Finally, Marshall Wace LLP purchased a new stake in shares of Capital Product Partners in the 3rd quarter worth $451,000. Institutional investors and hedge funds own 39.45% of the company’s stock.

Shares of NASDAQ CPLP traded down $0.05 during trading hours on Friday, hitting $15.90. 99,925 shares of the company traded hands, compared to its average volume of 110,753. The stock has a market capitalization of $301.65 million, a price-to-earnings ratio of 4.60 and a beta of 0.92. The company has a current ratio of 1.00, a quick ratio of 0.97 and a debt-to-equity ratio of 1.10. The company’s 50 day moving average price is $15.72 and its 200 day moving average price is $13.64. Capital Product Partners has a 12 month low of $8.37 and a 12 month high of $17.00.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, November 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, November 4th. Capital Product Partners’s payout ratio is currently 11.56%.

About Capital Product Partners

Capital Product Partners LP is a shipping company, which engages in the seaborne transportation of containerized goods and dry cargo. It owns panamax container and capesize bulk carrier vessels. The company was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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