Capital Product Partners L.P. (CPLP) Given Average Recommendation of “Hold” by Analysts

Capital Product Partners L.P. (NASDAQ:CPLP) has earned an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.75.

CPLP has been the topic of a number of recent research reports. TheStreet lowered Capital Product Partners L.P. from a “b-” rating to a “c” rating in a research note on Wednesday, May 24th. UBS AG restated a “buy” rating and set a $4.50 price objective on shares of Capital Product Partners L.P. in a research note on Thursday, July 6th. Finally, BidaskClub lowered Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd.

Shares of Capital Product Partners L.P. (NASDAQ CPLP) traded down 1.811% on Tuesday, reaching $3.525. The company’s stock had a trading volume of 662,830 shares. Capital Product Partners L.P. has a 1-year low of $2.73 and a 1-year high of $4.00. The company’s 50 day moving average is $3.64 and its 200-day moving average is $3.48. The firm has a market cap of $435.80 million, a price-to-earnings ratio of 12.031 and a beta of 1.63.

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, July 28th. The shipping company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. Capital Product Partners L.P. had a return on equity of 4.95% and a net margin of 18.20%. The company had revenue of $62.06 million for the quarter, compared to the consensus estimate of $59.47 million. Equities research analysts expect that Capital Product Partners L.P. will post $0.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Thursday, August 3rd will be paid a $0.08 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.32 annualized dividend and a dividend yield of 9.08%. Capital Product Partners L.P.’s payout ratio is 106.67%.

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP raised its position in shares of Capital Product Partners L.P. by 209.9% in the fourth quarter. GSA Capital Partners LLP now owns 104,912 shares of the shipping company’s stock valued at $334,000 after buying an additional 71,054 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new position in shares of Capital Product Partners L.P. during the first quarter valued at about $117,000. Arrow Investment Advisors LLC raised its position in shares of Capital Product Partners L.P. by 5.4% in the first quarter. Arrow Investment Advisors LLC now owns 280,612 shares of the shipping company’s stock valued at $1,002,000 after buying an additional 14,420 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Capital Product Partners L.P. by 40.7% in the first quarter. JPMorgan Chase & Co. now owns 837,790 shares of the shipping company’s stock valued at $2,991,000 after buying an additional 242,322 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Capital Product Partners L.P. during the first quarter valued at about $220,000. Institutional investors own 18.67% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Capital Product Partners L.P. (CPLP) Given Average Recommendation of “Hold” by Analysts” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://sportsperspectives.com/2017/08/10/brokerages-set-capital-product-partners-l-p-cplp-target-price-at-4-70-updated.html.

About Capital Product Partners L.P.

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.

Receive News & Ratings for Capital Product Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Product Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply