Capital Product Partners L.P. (CPLP) Expected to Post Q2 2019 Earnings of $0.40 Per Share

Capital Product Partners L.P. (NASDAQ:CPLP) – Equities research analysts at Jefferies Financial Group boosted their Q2 2019 earnings per share (EPS) estimates for shares of Capital Product Partners in a note issued to investors on Tuesday, May 14th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will earn $0.40 per share for the quarter, up from their previous forecast of $0.35. Jefferies Financial Group also issued estimates for Capital Product Partners’ Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.33 EPS and FY2020 earnings at $2.00 EPS.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Monday, May 13th. The shipping company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.41). Capital Product Partners had a negative net margin of 59.95% and a positive return on equity of 3.64%. The firm had revenue of $26.28 million during the quarter, compared to the consensus estimate of $57.93 million.

CPLP has been the topic of a number of other reports. Zacks Investment Research cut shares of Capital Product Partners from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. ValuEngine cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. BidaskClub cut shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Finally, B. Riley reiterated a “buy” rating and issued a $14.00 target price (up from $12.25) on shares of Capital Product Partners in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Capital Product Partners has an average rating of “Hold” and a consensus target price of $17.88.

NASDAQ:CPLP opened at $10.38 on Wednesday. Capital Product Partners has a fifty-two week low of $10.11 and a fifty-two week high of $22.57. The stock has a market capitalization of $192.36 million, a PE ratio of 10.59 and a beta of 1.04. The company has a current ratio of 0.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.50.

A number of hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its stake in Capital Product Partners by 100.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,532,859 shares of the shipping company’s stock worth $9,474,000 after purchasing an additional 2,272,183 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Capital Product Partners by 19.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,382,108 shares of the shipping company’s stock worth $3,843,000 after purchasing an additional 229,516 shares in the last quarter. Goodman Financial Corp boosted 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 purchasing an additional 9,530 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Capital Product Partners by 18.3% in the 4th quarter. Two Sigma Advisers LP now owns 508,500 shares of the shipping company’s stock worth $1,063,000 after purchasing an additional 78,684 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Capital Product Partners by 273.9% in the 4th quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock worth $977,000 after purchasing an additional 342,493 shares in the last quarter.

The business also recently announced a special dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 13th were paid a $0.315 dividend. The ex-dividend date was Friday, May 10th. Capital Product Partners’s dividend payout ratio (DPR) is presently 128.57%.

About Capital Product Partners

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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