Shares of Capital Product Partners L.P. (NASDAQ:CPLP) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.25.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. ValuEngine lowered shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Wells Fargo & Co reiterated a “hold” rating on shares of Capital Product Partners in a research report on Tuesday, May 21st. Finally, B. Riley set a $14.00 price objective on shares of Capital Product Partners and gave the company a “buy” rating in a research report on Tuesday, May 14th.
Shares of NASDAQ:CPLP traded down $0.02 during midday trading on Wednesday, reaching $10.65. 197,183 shares of the company were exchanged, compared to its average volume of 114,387. Capital Product Partners has a one year low of $9.68 and a one year high of $21.49. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $10.92 and its two-hundred day moving average is $8.43. The stock has a market cap of $199.20 million, a PE ratio of 10.87 and a beta of 0.99.
Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Capital Product Partners had a negative net margin of 69.36% and a positive return on equity of 5.70%. The business had revenue of $26.83 million during the quarter, compared to analyst estimates of $27.32 million. As a group, sell-side analysts expect that Capital Product Partners will post 1.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, August 2nd were issued a $0.315 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.26 annualized dividend and a dividend yield of 11.83%. Capital Product Partners’s dividend payout ratio (DPR) is presently 128.57%.
Several institutional investors have recently added to or reduced their stakes in the company. Goodman Financial Corp increased its stake in Capital Product Partners by 1.0% in the 1st quarter. Goodman Financial Corp now owns 973,494 shares of the shipping company’s stock worth $1,460,000 after buying an additional 9,530 shares during the period. Bank of America Corp DE increased its stake in Capital Product Partners by 432.1% in the 2nd quarter. Bank of America Corp DE now owns 345,873 shares of the shipping company’s stock worth $3,631,000 after buying an additional 280,873 shares during the period. Geode Capital Management LLC increased its stake in Capital Product Partners by 113.6% in the 4th quarter. Geode Capital Management LLC now owns 279,574 shares of the shipping company’s stock worth $584,000 after buying an additional 148,676 shares during the period. Morgan Stanley increased its stake in Capital Product Partners by 386.2% in the 2nd quarter. Morgan Stanley now owns 242,365 shares of the shipping company’s stock worth $2,544,000 after buying an additional 192,516 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Capital Product Partners by 1,045.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 109,194 shares of the shipping company’s stock worth $1,147,000 after buying an additional 99,665 shares during the period. Hedge funds and other institutional investors own 17.74% of the company’s stock.
Capital Product Partners Company Profile
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
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