Zacks: Analysts Anticipate Capital Product Partners L.P. (CPLP) Will Announce Earnings of $0.04 Per Share

Wall Street analysts expect Capital Product Partners L.P. (NASDAQ:CPLP) to post earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Capital Product Partners’ earnings, with estimates ranging from $0.03 to $0.06. Capital Product Partners posted earnings per share of $0.06 during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The firm is scheduled to issue its next earnings results on Friday, July 27th.

On average, analysts expect that Capital Product Partners will report full-year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.16 to $0.42. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.36 per share, with EPS estimates ranging from $0.21 to $0.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings data on Monday, April 30th. The shipping company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). Capital Product Partners had a return on equity of 3.53% and a net margin of 11.26%. The company had revenue of $65.54 million for the quarter, compared to analyst estimates of $59.70 million.



Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. ValuEngine downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, TheStreet downgraded shares of Capital Product Partners from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.50.

Several institutional investors have recently modified their holdings of CPLP. Virtu Financial LLC purchased a new position in shares of Capital Product Partners during the fourth quarter worth $182,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Capital Product Partners by 9.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,332,342 shares of the shipping company’s stock worth $4,477,000 after purchasing an additional 114,029 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Capital Product Partners by 15.6% during the fourth quarter. Deutsche Bank AG now owns 638,782 shares of the shipping company’s stock worth $2,146,000 after purchasing an additional 86,370 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Capital Product Partners by 13.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,763,343 shares of the shipping company’s stock worth $9,285,000 after purchasing an additional 323,257 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Capital Product Partners by 23.9% during the fourth quarter. Two Sigma Advisers LP now owns 732,416 shares of the shipping company’s stock worth $2,461,000 after purchasing an additional 141,100 shares during the last quarter. 18.32% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CPLP opened at $3.11 on Friday. Capital Product Partners has a 12 month low of $2.98 and a 12 month high of $4.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.65 and a quick ratio of 0.61. The firm has a market cap of $404.62 million, a PE ratio of 12.44 and a beta of 1.23.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 14th. Investors of record on Wednesday, May 2nd were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, May 1st. This represents a $0.32 annualized dividend and a dividend yield of 10.29%. Capital Product Partners’s dividend payout ratio (DPR) is presently 128.00%.

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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