Shares of Capital Product Partners L.P. (NASDAQ:CPLP) are scheduled to reverse split on Thursday, March 28th. The 1-7 reverse split was announced on Wednesday, March 6th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 27th.
Shares of CPLP stock opened at $2.30 on Friday. Capital Product Partners has a 1-year low of $2.05 and a 1-year high of $3.31. The company has a current ratio of 0.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.44. The firm has a market cap of $298.92 million, a P/E ratio of 16.43 and a beta of 1.11.
Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Thursday, January 31st. The shipping company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Capital Product Partners had a return on equity of 3.24% and a net margin of 0.13%. The firm had revenue of $61.51 million for the quarter, compared to the consensus estimate of $59.64 million. On average, equities research analysts forecast that Capital Product Partners will post 0.22 earnings per share for the current fiscal year.
Several research analysts recently weighed in on the company. Zacks Investment Research downgraded Capital Product Partners from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub downgraded Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Wells Fargo & Co downgraded Capital Product Partners from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $4.00 to $3.00 in a research note on Thursday, January 10th. Finally, B. Riley assumed coverage on Capital Product Partners in a research note on Tuesday, December 4th. They set a “buy” rating and a $2.75 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.94.
A number of institutional investors have recently bought and sold shares of CPLP. Russell Investments Group Ltd. purchased a new stake in Capital Product Partners during the 3rd quarter valued at about $185,000. JPMorgan Chase & Co. grew its stake in Capital Product Partners by 19.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,382,108 shares of the shipping company’s stock valued at $3,843,000 after purchasing an additional 229,516 shares during the last quarter. Eagle Boston Investment Management Inc. grew its stake in Capital Product Partners by 3.3% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 567,672 shares of the shipping company’s stock valued at $1,578,000 after purchasing an additional 18,247 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in Capital Product Partners during the 3rd quarter valued at about $6,285,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Capital Product Partners during the 3rd quarter valued at about $5,298,000. Institutional investors and hedge funds own 18.71% of the company’s stock.
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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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