Research Analysts Offer Predictions for Capital Product Partners L.P.’s Q2 2024 Earnings (NASDAQ:CPLP)

Capital Product Partners L.P. (NASDAQ:CPLP) – Analysts at B. Riley reduced their Q2 2024 EPS estimates for shares of Capital Product Partners in a research note issued to investors on Tuesday, April 30th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.43. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Capital Product Partners’ current full-year earnings is $1.68 per share. B. Riley also issued estimates for Capital Product Partners’ Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $0.71 EPS and FY2025 earnings at $0.88 EPS.

A number of other brokerages have also issued reports on CPLP. Stifel Nicolaus dropped their target price on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Capital Product Partners Stock Performance

Shares of NASDAQ CPLP opened at $16.70 on Friday. Capital Product Partners has a 12 month low of $12.02 and a 12 month high of $18.85. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.42. The company has a market cap of $344.02 million, a P/E ratio of 7.29 and a beta of 0.87. The business’s 50 day moving average is $17.18 and its two-hundred day moving average is $15.97.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). The business had revenue of $92.50 million for the quarter, compared to the consensus estimate of $93.32 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 7.02%. During the same quarter in the previous year, the company earned $1.03 EPS.

Institutional Trading of Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,580 shares of the shipping company’s stock after purchasing an additional 20,746 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.02% of Capital Product Partners worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission.

Capital Product Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, May 6th. Capital Product Partners’s dividend payout ratio is 26.20%.

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.