Capital Product Partners L.P. (NASDAQ:CPLP) Expected to Announce Earnings of $1.14 Per Share

Posted by on Jun 8th, 2022

Wall Street analysts expect that Capital Product Partners L.P. (NASDAQ:CPLP – Get Rating) will report earnings of $1.14 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Capital Product Partners’ earnings. The lowest EPS estimate is $1.11 and the highest is $1.17. Capital Product Partners reported earnings of $0.53 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 115.1%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Capital Product Partners will report full-year earnings of $4.74 per share for the current financial year, with EPS estimates ranging from $4.69 to $4.79. For the next financial year, analysts expect that the firm will post earnings of $4.71 per share, with EPS estimates ranging from $4.45 to $4.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP – Get Rating) last issued its quarterly earnings data on Friday, May 6th. The shipping company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The business had revenue of $69.79 million during the quarter, compared to analyst estimates of $69.75 million. Capital Product Partners had a net margin of 50.54% and a return on equity of 13.44%. During the same quarter last year, the business earned $0.57 EPS.

CPLP has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Capital Product Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, May 10th. StockNews.com began coverage on shares of Capital Product Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet raised shares of Capital Product Partners from a “c+” rating to a “b-” rating in a research report on Monday, April 25th.

Several hedge funds have recently made changes to their positions in CPLP. Morgan Stanley grew its position in shares of Capital Product Partners by 19.7% during the 2nd quarter. Morgan Stanley now owns 506,282 shares of the shipping company’s stock worth $6,177,000 after buying an additional 83,262 shares during the period. Barclays PLC acquired a new stake in shares of Capital Product Partners during the 3rd quarter worth approximately $26,000. Goldman Sachs Group Inc. lifted its holdings in shares of Capital Product Partners by 84.8% in the 3rd quarter. Goldman Sachs Group Inc. now owns 49,959 shares of the shipping company’s stock worth $649,000 after purchasing an additional 22,929 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Capital Product Partners by 44.2% in the 3rd quarter. Jump Financial LLC now owns 18,605 shares of the shipping company’s stock worth $242,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Capital Product Partners in the 3rd quarter worth $451,000. 41.57% of the stock is owned by institutional investors.

NASDAQ CPLP traded up $0.70 during trading hours on Tuesday, reaching $17.24. The company’s stock had a trading volume of 100,267 shares, compared to its average volume of 114,963. The firm has a fifty day simple moving average of $16.11 and a 200-day simple moving average of $15.88. The stock has a market cap of $340.37 million, a P/E ratio of 2.97 and a beta of 1.04. Capital Product Partners has a 52 week low of $10.60 and a 52 week high of $19.65. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.42 and a quick ratio of 0.38.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Friday, May 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Thursday, May 5th. Capital Product Partners’s dividend payout ratio is presently 10.34%.

About Capital Product Partners (Get Rating)

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. Its vessels transport 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. As of April 27, 2022, the company owned 21 vessels, including 11 Neo-Panamax container vessels, three Panamax container vessels, one cape-size bulk carrier, and six LNG carriers.

Further Reading

Get a free copy of the Zacks research report on Capital Product Partners (CPLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Want More Great Investing Ideas?

Receive News & Ratings for Capital Product Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Product Partners and related companies with MarketBeat.com's FREE daily email newsletter.