Analysts expect that Capital Product Partners L.P. (NASDAQ:CPLP) will post sales of $59.70 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Capital Product Partners’ earnings, with the lowest sales estimate coming in at $58.18 million and the highest estimate coming in at $62.58 million. Capital Product Partners 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 business is scheduled to report its next earnings report on Friday, April 27th.
On average, analysts expect that Capital Product Partners will report full year sales of $59.70 million for the current year, with estimates ranging from $238.84 million to $257.33 million. For the next financial year, analysts forecast that the firm will post sales of $259.24 million per share, with estimates ranging from $241.05 million to $292.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Capital Product Partners.
Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Capital Product Partners had a return on equity of 4.17% and a net margin of 14.31%. The business had revenue of $64.11 million during the quarter, compared to the consensus estimate of $59.70 million.
A number of institutional investors and hedge funds have recently modified their holdings of CPLP. Wells Fargo & Company MN increased its holdings in Capital Product Partners by 6.8% in the 2nd quarter. Wells Fargo & Company MN now owns 100,914 shares of the shipping company’s stock worth $343,000 after purchasing an additional 6,450 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Capital Product Partners in the 2nd quarter worth about $3,202,000. Raymond James Financial Services Advisors Inc. increased its holdings in Capital Product Partners by 0.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock worth $225,000 after purchasing an additional 523 shares in the last quarter. Goodman Financial Corp acquired a new position in Capital Product Partners in the 3rd quarter worth about $2,768,000. Finally, Russell Investments Group Ltd. increased its holdings in Capital Product Partners by 210.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 101,677 shares of the shipping company’s stock worth $356,000 after purchasing an additional 68,970 shares in the last quarter. 18.55% of the stock is owned by institutional investors and hedge funds.
Shares of Capital Product Partners (CPLP) opened at $3.22 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. Capital Product Partners has a 1 year low of $2.98 and a 1 year high of $4.00. The firm has a market capitalization of $408.45, a price-to-earnings ratio of 14.64 and a beta of 1.33.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Saturday, February 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.32 dividend on an annualized basis and a yield of 9.94%. Capital Product Partners’s payout ratio is presently 145.46%.
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Capital Product Partners Company Profile
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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