Capital Product Partners L.P. (NASDAQ:CPLP – Free Report) – Analysts at B. Riley raised their FY2023 earnings per share (EPS) estimates for shares of Capital Product Partners in a research note issued on Tuesday, November 14th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $2.12 for the year, up from their previous forecast of $1.99. The consensus estimate for Capital Product Partners’ current full-year earnings is $1.99 per share. B. Riley also issued estimates for Capital Product Partners’ FY2024 earnings at $0.68 EPS.
Other equities research analysts have also issued reports about the company. TheStreet lowered Capital Product Partners from a “b-” rating to a “c+” rating in a research note on Friday, July 28th. StockNews.com initiated coverage on Capital Product Partners in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Stifel Nicolaus boosted their target price on shares of Capital Product Partners from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday.
Capital Product Partners Stock Down 0.4 %
Shares of NASDAQ:CPLP opened at $13.85 on Thursday. The firm has a market capitalization of $285.37 million, a PE ratio of 5.09 and a beta of 0.94. The business has a 50 day simple moving average of $13.93 and a two-hundred day simple moving average of $14.02. Capital Product Partners has a 1 year low of $11.93 and a 1 year high of $16.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.85 and a quick ratio of 0.82.
Capital Product Partners (NASDAQ:CPLP – Get Free Report) last released its earnings results on Monday, November 13th. The shipping company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. The firm had revenue of $95.53 million during the quarter, compared to analyst estimates of $85.94 million. Capital Product Partners had a net margin of 16.12% and a return on equity of 8.64%. During the same quarter last year, the business earned $0.57 EPS.
Capital Product Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Friday, November 3rd. Capital Product Partners’s dividend payout ratio is presently 22.06%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Capital Product Partners by 597.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock worth $5,052,000 after buying an additional 237,362 shares during the period. Royal Bank of Canada raised its holdings in shares of Capital Product Partners by 4.9% in the first quarter. Royal Bank of Canada now owns 18,477 shares of the shipping company’s stock valued at $337,000 after acquiring an additional 859 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Capital Product Partners by 2,886,050.0% in the first quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock worth $1,052,000 after acquiring an additional 57,721 shares during the period. Sei Investments Co. grew its holdings in Capital Product Partners by 16.2% during the 2nd quarter. Sei Investments Co. now owns 68,234 shares of the shipping company’s stock worth $1,034,000 after acquiring an additional 9,504 shares in the last quarter. Finally, Creative Planning increased its position in Capital Product Partners by 23.0% during the 2nd quarter. Creative Planning now owns 21,420 shares of the shipping company’s stock valued at $325,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 38.64% of the company’s stock.
Capital Product Partners Company Profile
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.
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