B. Riley Analysts Cut Earnings Estimates for Capital Product Partners L.P. (NASDAQ:CPLP)

Capital Product Partners L.P. (NASDAQ:CPLP) – Stock analysts at B. Riley decreased their Q2 2024 earnings estimates for shares of Capital Product Partners in a research report issued to clients and investors on Tuesday, April 30th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $0.05 per share for the quarter, down from their previous estimate of $0.43. B. Riley has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Capital Product Partners’ current full-year earnings is $1.68 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 posted its quarterly 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). Capital Product Partners had a return on equity of 7.02% and a net margin of 18.51%. The company had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the prior year, the firm earned $1.03 EPS.

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

Capital Product Partners Price Performance

Shares of CPLP stock opened at $16.70 on Friday. The company has a market capitalization of $344.02 million, a PE ratio of 7.29 and a beta of 0.87. Capital Product Partners has a 12 month low of $12.02 and a 12 month high of $18.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.23 and a quick ratio of 1.20. The firm’s 50-day moving average is $17.18 and its two-hundred day moving average is $15.97.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,580 shares of the shipping company’s stock after purchasing an additional 20,746 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.02% of Capital Product Partners worth $2,936,000 as of its most recent SEC filing.

Capital Product Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 3.59%. Capital Product Partners’s payout ratio is 26.20%.

Capital Product Partners Company Profile

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.