Analysts expect that Capital Product Partners L.P. (NASDAQ:CPLP) will announce sales of $59.71 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Capital Product Partners L.P.’s earnings, with estimates ranging from $58.13 million to $61.64 million. Capital Product Partners L.P. posted sales of $60.27 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The company is scheduled to issue its next earnings results on Monday, October 30th.

On average, analysts expect that Capital Product Partners L.P. will report full-year sales of $59.71 million for the current fiscal year, with estimates ranging from $234.00 million to $244.50 million. For the next financial year, analysts forecast that the company will report sales of $239.72 million per share, with estimates ranging from $230.87 million to $257.18 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Capital Product Partners L.P..

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

A number of equities analysts have issued reports on CPLP shares. ValuEngine raised shares of Capital Product Partners L.P. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research cut shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. BidaskClub cut shares of Capital Product Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. TheStreet raised shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $4.00 price objective (down from $4.50) on shares of Capital Product Partners L.P. in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.75.

Shares of Capital Product Partners L.P. (NASDAQ CPLP) opened at 3.53 on Friday. Capital Product Partners L.P. has a 52-week low of $2.73 and a 52-week high of $4.00. The firm has a market capitalization of $436.42 million, a P/E ratio of 12.05 and a beta of 1.63. The firm has a 50-day moving average price of $3.54 and a 200-day moving average price of $3.51.

A number of hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC increased its position in Capital Product Partners L.P. by 22.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,229,685 shares of the shipping company’s stock worth $7,581,000 after purchasing an additional 414,798 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Capital Product Partners L.P. by 97.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,683,908 shares of the shipping company’s stock valued at $6,012,000 after acquiring an additional 831,518 shares during the period. Renaissance Technologies LLC increased its position in Capital Product Partners L.P. by 307.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,117,635 shares of the shipping company’s stock valued at $3,990,000 after acquiring an additional 843,300 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Capital Product Partners L.P. during the second quarter worth $3,202,000. Finally, JPMorgan Chase & Co. increased its position in shares of Capital Product Partners L.P. by 10.7% during the second quarter. JPMorgan Chase & Co. now owns 927,069 shares of the shipping company’s stock worth $3,152,000 after buying an additional 89,279 shares during the period. Institutional investors and hedge funds own 17.57% of the company’s stock.

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About Capital Product Partners L.P.

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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