Analysts Anticipate Capital Product Partners L.P. (CPLP) Will Announce Quarterly Sales of $59.90 Million

Brokerages predict that Capital Product Partners L.P. (NASDAQ:CPLP) will post sales of $59.90 million for the current quarter, according to Zacks. Four analysts have made estimates for Capital Product Partners L.P.’s earnings, with estimates ranging from $58.01 million to $62.37 million. Capital Product Partners L.P. posted sales of $62.40 million during the same quarter last year, which would indicate a negative year over year growth rate of 4%. The company is expected to report its next earnings report on Tuesday, January 30th.

On average, analysts expect that Capital Product Partners L.P. will report full year sales of $59.90 million for the current financial year, with estimates ranging from $232.94 million to $247.38 million. For the next financial year, analysts expect that the business will report sales of $240.23 million per share, with estimates ranging from $226.00 million to $259.22 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Capital Product Partners L.P..

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, October 27th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Capital Product Partners L.P. had a net margin of 17.17% and a return on equity of 4.70%. The company had revenue of $62.68 million during the quarter, compared to the consensus estimate of $59.71 million.

CPLP has been the subject of a number of research analyst reports. TheStreet raised shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a report on Thursday, August 17th. ValuEngine raised shares of Capital Product Partners L.P. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of Capital Product Partners L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. UBS AG reaffirmed a “neutral” rating and set a $4.00 price objective (down from $4.50) on shares of Capital Product Partners L.P. in a report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.75.

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Shares of Capital Product Partners L.P. (NASDAQ CPLP) opened at $3.22 on Tuesday. Capital Product Partners L.P. has a fifty-two week low of $2.80 and a fifty-two week high of $4.00. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The stock has a market cap of $434.95, a price-to-earnings ratio of 11.50 and a beta of 1.64.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Friday, November 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date of this dividend was Thursday, November 2nd. Capital Product Partners L.P.’s payout ratio is presently 114.29%.

A number of large investors have recently modified their holdings of the stock. Partnervest Advisory Services LLC raised its position in Capital Product Partners L.P. by 12.6% in the 3rd quarter. Partnervest Advisory Services LLC now owns 149,585 shares of the shipping company’s stock worth $524,000 after purchasing an additional 16,749 shares during the period. JPMorgan Chase & Co. raised its position in Capital Product Partners L.P. 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 purchasing an additional 68,892 shares during the period. Russell Investments Group Ltd. raised its position in Capital Product Partners L.P. 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 purchasing an additional 68,970 shares during the period. Goodman Financial Corp purchased a new position in Capital Product Partners L.P. in the 3rd quarter worth $2,768,000. Finally, Susquehanna International Group LLP raised its position in Capital Product Partners L.P. by 354.2% in the 2nd quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock worth $497,000 after purchasing an additional 114,028 shares during the period. Institutional investors own 18.62% of the company’s stock.

Capital Product Partners L.P. Company Profile

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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