$62.06 Million in Sales Expected for Capital Product Partners L.P. (CPLP) This Quarter

Equities analysts forecast that Capital Product Partners L.P. (NASDAQ:CPLP) will announce sales of $62.06 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Capital Product Partners’ earnings, with estimates ranging from $55.70 million to $67.79 million. Capital Product Partners posted sales of $62.68 million during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 26th.

On average, analysts expect that Capital Product Partners will report full-year sales of $247.67 million for the current fiscal year, with estimates ranging from $225.10 million to $267.88 million. For the next financial year, analysts anticipate that the business will report sales of $256.36 million per share, with estimates ranging from $228.30 million to $271.71 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings data on Friday, July 27th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). The firm had revenue of $65.54 million for the quarter, compared to analysts’ expectations of $59.82 million. Capital Product Partners had a return on equity of 2.90% and a net margin of 8.86%.

Several equities research analysts have recently issued reports on CPLP shares. Zacks Investment Research cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. BidaskClub cut shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 23rd. Finally, ValuEngine raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.00.

A number of institutional investors and hedge funds have recently made changes to their positions in CPLP. Jane Street Group LLC purchased a new stake in Capital Product Partners in the fourth quarter valued at $131,000. LPL Financial LLC lifted its position in Capital Product Partners by 57.7% in the fourth quarter. LPL Financial LLC now owns 46,536 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 17,019 shares during the last quarter. Millennium Management LLC lifted its position in Capital Product Partners by 32.6% in the fourth quarter. Millennium Management LLC now owns 93,614 shares of the shipping company’s stock valued at $315,000 after acquiring an additional 23,015 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Capital Product Partners in the first quarter valued at $346,000. Finally, Avalon Advisors LLC lifted its position in Capital Product Partners by 755.3% in the first quarter. Avalon Advisors LLC now owns 115,460 shares of the shipping company’s stock valued at $360,000 after acquiring an additional 101,960 shares during the last quarter. 18.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Capital Product Partners remained flat at $$3.04 during trading on Tuesday, MarketBeat Ratings reports. 163,390 shares of the stock traded hands, compared to its average volume of 310,282. The stock has a market cap of $394.24 million, a PE 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 current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.46.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Thursday, August 2nd will be given 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 yield of 10.53%. Capital Product Partners’s dividend payout ratio (DPR) is presently 128.00%.

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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