Brokerages Anticipate Capital Product Partners L.P. (NASDAQ:CPLP) Will Post Quarterly Sales of $70.49 Million

Analysts predict that Capital Product Partners L.P. (NASDAQ:CPLP – Get Rating) will report $70.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Capital Product Partners’ earnings, with the highest sales estimate coming in at $71.73 million and the lowest estimate coming in at $68.62 million. Capital Product Partners posted sales of $37.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 87.3%. The company is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Capital Product Partners will report full-year sales of $283.42 million for the current fiscal year, with estimates ranging from $277.43 million to $287.04 million. For the next financial year, analysts expect that the company will post sales of $285.39 million, with estimates ranging from $274.82 million to $294.31 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP – Get Rating) last released its quarterly earnings data on Friday, May 6th. The shipping company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The firm had revenue of $69.79 million for 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 period last year, the firm earned $0.57 earnings per share.

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

Shares of NASDAQ:CPLP opened at $17.01 on Thursday. The company has a 50 day moving average of $16.09 and a 200 day moving average of $15.88. The stock has a market cap of $335.83 million, a P/E ratio of 2.93 and a beta of 1.04. Capital Product Partners has a 12 month low of $10.60 and a 12 month high of $19.65. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 2.17.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Friday, May 6th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, May 5th. Capital Product Partners’s dividend payout ratio (DPR) is presently 10.34%.

A number of hedge funds have recently added to or reduced their stakes in CPLP. Navellier & Associates Inc. purchased a new position in shares of Capital Product Partners during the 4th quarter worth about $424,000. Marshall Wace LLP bought a new stake in shares of Capital Product Partners during the third quarter valued at about $451,000. Mirae Asset Global Investments Co. Ltd. raised its position in Capital Product Partners by 25.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 163,229 shares of the shipping company’s stock worth $2,976,000 after acquiring an additional 32,998 shares in the last quarter. Walleye Capital LLC grew its stake in Capital Product Partners by 24.1% during the 4th quarter. Walleye Capital LLC now owns 95,082 shares of the shipping company’s stock valued at $1,532,000 after acquiring an additional 18,451 shares in the last quarter. Finally, Barclays PLC bought a new stake in shares of Capital Product Partners in the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 41.57% of the company’s stock.

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.

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