BidaskClub Lowers Capital Product Partners (CPLP) to Strong Sell

BidaskClub downgraded shares of Capital Product Partners (NASDAQ:CPLP) from a sell rating to a strong sell rating in a report released on Friday.

CPLP has been the subject of several other reports. Zacks Investment Research cut Capital Product Partners from a hold rating to a sell rating in a report on Monday, July 2nd. ValuEngine raised Capital Product Partners from a sell rating to a hold rating in a report on Friday, June 1st. Three analysts have rated the stock with a sell rating and one has given a buy rating to the stock. Capital Product Partners has a consensus rating of Hold and an average price target of $5.00.

Shares of Capital Product Partners opened at $3.04 on Friday, Marketbeat Ratings reports. The firm has a market cap of $394.24 million, a P/E ratio of 12.16 and a beta of 1.23. Capital Product Partners has a 1 year low of $2.98 and a 1 year high of $3.70. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.46.

Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings data on Friday, July 27th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $65.54 million for the quarter, compared to analyst estimates of $59.82 million. Capital Product Partners had a return on equity of 2.90% and a net margin of 8.86%. research analysts predict that Capital Product Partners will post 0.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Thursday, August 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 10.53%. Capital Product Partners’s dividend payout ratio (DPR) is 128.00%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPLP. Deutsche Bank AG raised its holdings in shares of Capital Product Partners by 15.6% in the fourth quarter. Deutsche Bank AG now owns 638,782 shares of the shipping company’s stock worth $2,146,000 after acquiring an additional 86,370 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Capital Product Partners by 32.6% in the fourth quarter. Millennium Management LLC now owns 93,614 shares of the shipping company’s stock worth $315,000 after acquiring an additional 23,015 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Capital Product Partners by 57.7% in the fourth quarter. LPL Financial LLC now owns 46,536 shares of the shipping company’s stock worth $156,000 after acquiring an additional 17,019 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Capital Product Partners in the fourth quarter worth $131,000. Finally, Global X Management Co. LLC raised its holdings in shares of Capital Product Partners by 14.0% in the first quarter. Global X Management Co. LLC now owns 2,269,830 shares of the shipping company’s stock worth $7,082,000 after acquiring an additional 279,357 shares during the last quarter. 18.28% of the stock is owned by institutional investors.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.

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