Capital Product Partners L.P. (NASDAQ:CPLP) Announces $0.10 Dividend

Capital Product Partners L.P. (NASDAQ:CPLP) announced a dividend on Friday, July 31st, Fidelity reports. Stockholders of record on Sunday, August 9th will be paid a dividend of 0.10 per share by the shipping company on Friday, August 14th. The ex-dividend date of this dividend is Thursday, August 6th.

Capital Product Partners has decreased its dividend by an average of 61.1% annually over the last three years. Capital Product Partners has a dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Capital Product Partners to earn $1.33 per share next year, which means the company may not be able to cover its $1.40 annual dividend with an expected future payout ratio of 105.3%.

Shares of NASDAQ:CPLP opened at $5.65 on Friday. The company has a market cap of $104.69 million, a price-to-earnings ratio of 4.48 and a beta of 1.58. The firm’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $9.25. The company has a quick ratio of 0.26, a current ratio of 0.28 and a debt-to-equity ratio of 0.81. Capital Product Partners has a fifty-two week low of $5.18 and a fifty-two week high of $14.20.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Wednesday, May 6th. The shipping company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.10). Capital Product Partners had a net margin of 20.41% and a return on equity of 5.86%. The company had revenue of $32.49 million during the quarter, compared to analyst estimates of $33.34 million. On average, research analysts forecast that Capital Product Partners will post 1.52 EPS for the current year.

CPLP has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Friday. Zacks Investment Research upgraded shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

About Capital Product Partners

Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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Dividend History for Capital Product Partners (NASDAQ:CPLP)

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