Capital Product Partners L.P. (CPLP) To Go Ex-Dividend on May 6th

Capital Product Partners L.P. (NASDAQ:CPLP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Tuesday, May 7th will be paid a dividend of 0.15 per share by the shipping company on Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, May 6th.

Capital Product Partners has decreased its dividend payment by an average of 12.6% per year over the last three years. Capital Product Partners has a payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Product Partners to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 35.9%.

Capital Product Partners Stock Performance

Shares of NASDAQ CPLP opened at $16.70 on Friday. Capital Product Partners has a 1 year low of $12.02 and a 1 year high of $18.85. The firm has a market cap of $344.02 million, a P/E ratio of 7.29 and a beta of 0.87. The stock has a fifty day moving average price of $17.18 and a two-hundred day moving average price of $15.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.23.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a net margin of 18.51% and a return on equity of 7.02%. The firm had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. During the same quarter last year, the company earned $1.03 EPS. Research analysts forecast that Capital Product Partners will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

CPLP has been the subject of several research reports. B. Riley raised their price objective on Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus cut their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Jefferies Financial Group lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $18.00 in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide 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.