Brokerages predict that Capital Product Partners L.P. (NASDAQ:CPLP) will announce sales of $59.73 million for the current quarter, Zacks reports. Five analysts have issued estimates for Capital Product Partners L.P.’s earnings, with the highest sales estimate coming in at $61.71 million and the lowest estimate coming in at $58.13 million. Capital Product Partners L.P. posted sales of $60.27 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.9%. The business is expected to report its next quarterly earnings results on Monday, October 30th.

On average, analysts expect that Capital Product Partners L.P. will report full year sales of $59.73 million for the current fiscal year, with estimates ranging from $234.00 million to $245.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $239.93 million per share, with estimates ranging from $230.87 million to $257.18 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Capital Product Partners L.P..

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, July 28th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%.

Several brokerages recently commented on CPLP. TheStreet cut Capital Product Partners L.P. from a “b-” rating to a “c” rating in a research note on Wednesday, May 24th. BidaskClub cut Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. UBS Group AG reaffirmed a “neutral” rating and set a $4.00 target price (down previously from $4.50) on shares of Capital Product Partners L.P. in a research report on Wednesday, August 9th. Finally, ValuEngine cut Capital Product Partners L.P. from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Capital Product Partners L.P. has a consensus rating of “Hold” and an average target price of $4.40.

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Institutional investors have recently made changes to their positions in the business. Nine Chapters Capital Management LLC bought a new stake in Capital Product Partners L.P. during the first quarter worth approximately $117,000. Arrow Investment Advisors LLC boosted its position in Capital Product Partners L.P. by 5.4% during the first quarter. Arrow Investment Advisors LLC now owns 280,612 shares of the shipping company’s stock worth $1,002,000 after purchasing an additional 14,420 shares during the period. JPMorgan Chase & Co. boosted its position in Capital Product Partners L.P. by 40.7% during the first quarter. JPMorgan Chase & Co. now owns 837,790 shares of the shipping company’s stock worth $2,991,000 after purchasing an additional 242,322 shares during the period. Acadian Asset Management LLC bought a new stake in Capital Product Partners L.P. during the first quarter worth approximately $220,000. Finally, Stifel Financial Corp boosted its position in Capital Product Partners L.P. by 31.4% during the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock worth $100,000 after purchasing an additional 6,696 shares during the period. 17.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Capital Product Partners L.P. (NASDAQ:CPLP) opened at 3.60 on Tuesday. The stock has a market cap of $445.07 million, a price-to-earnings ratio of 12.29 and a beta of 1.64. The stock’s 50 day moving average is $3.64 and its 200-day moving average is $3.47. Capital Product Partners L.P. has a 1-year low of $2.73 and a 1-year high of $4.00.

The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Thursday, August 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.32 dividend on an annualized basis and a yield of 8.89%. Capital Product Partners L.P.’s payout ratio is currently 106.67%.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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