Q2 2024 EPS Estimates for Capital Product Partners L.P. Lowered by B. Riley (NASDAQ:CPLP)

Capital Product Partners L.P. (NASDAQ:CPLP) – B. Riley decreased their Q2 2024 earnings estimates for shares of Capital Product Partners in a report issued on Tuesday, April 30th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.43. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Capital Product Partners’ current full-year earnings is $1.54 per share. B. Riley also issued estimates for Capital Product Partners’ Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $0.71 EPS and FY2025 earnings at $0.88 EPS.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). The firm had revenue of $92.50 million for the quarter, compared to the consensus estimate of $93.32 million. Capital Product Partners had a return on equity of 7.02% and a net margin of 18.51%. During the same period in the previous year, the firm earned $1.03 EPS.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $18.00 in a research note on Tuesday, February 27th. Stifel Nicolaus reduced their price objective on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.67.

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 company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.23. The stock has a fifty day moving average price of $17.18 and a two-hundred day moving average price of $15.99. The firm has a market cap of $344.02 million, a P/E ratio of 7.29 and a beta of 0.87.

Capital Product Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. 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’s dividend payout ratio (DPR) is presently 26.20%.

Hedge Funds Weigh In On Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 209,580 shares of the shipping company’s stock after buying an additional 20,746 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.02% of Capital Product Partners worth $2,936,000 at the end of the most recent quarter.

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.