Capital Product Partners L.P. (CPLP) Expected to Announce Earnings of $0.08 Per Share

Brokerages expect Capital Product Partners L.P. (NASDAQ:CPLP) to post earnings per share of $0.08 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Capital Product Partners L.P.’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.06. Capital Product Partners L.P. posted earnings per share of $0.10 during the same quarter last year, which indicates a negative year-over-year growth rate of 20%. The company is scheduled to report its next earnings report on Friday, August 4th.

On average, analysts expect that Capital Product Partners L.P. will report full-year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.24 to $0.31. For the next fiscal year, analysts anticipate that the business will report earnings of $0.33 per share, with EPS estimates ranging from $0.19 to $0.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Capital Product Partners L.P..

Capital Product Partners L.P. (NASDAQ:CPLP) last issued its quarterly earnings data on Friday, April 28th. The shipping company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Capital Product Partners L.P. had a net margin of 20.36% and a return on equity of 5.53%. The business had revenue of $60.27 million during the quarter, compared to analysts’ expectations of $59.16 million.

A number of equities research analysts have recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 target price on shares of Capital Product Partners L.P. in a research report on Friday, March 31st. Zacks Investment Research upgraded shares of Capital Product Partners L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Finally, TheStreet upgraded shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a research report on Friday, March 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $4.40.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp raised its position in shares of Capital Product Partners L.P. by 31.4% in the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock valued at $100,000 after buying an additional 6,696 shares during the period. Nine Chapters Capital Management LLC bought a new position in shares of Capital Product Partners L.P. during the first quarter valued at $117,000. Acadian Asset Management LLC bought a new position in shares of Capital Product Partners L.P. during the first quarter valued at $220,000. Private Advisor Group LLC raised its position in shares of Capital Product Partners L.P. by 174.8% in the first quarter. Private Advisor Group LLC now owns 76,901 shares of the shipping company’s stock valued at $265,000 after buying an additional 48,918 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Capital Product Partners L.P. by 5.0% in the first quarter. Wells Fargo & Company MN now owns 94,464 shares of the shipping company’s stock valued at $337,000 after buying an additional 4,498 shares during the period. 18.06% of the stock is owned by institutional investors.

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Shares of Capital Product Partners L.P. (NASDAQ CPLP) traded up 0.88% during trading on Tuesday, hitting $3.43. 121,090 shares of the company’s stock were exchanged. Capital Product Partners L.P. has a 12-month low of $2.73 and a 12-month high of $4.05.

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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