Capital Product Partners L.P. (NASDAQ:CPLP) Expected to Post Quarterly Sales of $25.53 Million

Brokerages predict that Capital Product Partners L.P. (NASDAQ:CPLP) will announce sales of $25.53 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Capital Product Partners’ earnings, with estimates ranging from $24.18 million to $26.72 million. Capital Product Partners reported sales of $61.51 million in the same quarter last year, which would suggest a negative year over year growth rate of 58.5%. The business is scheduled to issue its next earnings results on Thursday, January 30th.

According to Zacks, analysts expect that Capital Product Partners will report full-year sales of $104.35 million for the current financial year, with estimates ranging from $103.00 million to $105.54 million. For the next fiscal year, analysts expect that the company will post sales of $130.74 million, with estimates ranging from $108.42 million to $146.66 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.22). Capital Product Partners had a negative net margin of 73.89% and a positive return on equity of 6.40%. The firm had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.22 million.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Capital Product Partners from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, December 31st. BidaskClub lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating in a report on Friday, January 10th. TheStreet upgraded shares of Capital Product Partners from a “d+” rating to a “c-” rating in a report on Monday, October 14th. Finally, ValuEngine upgraded shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $14.50.

Shares of CPLP traded down $0.07 during midday trading on Thursday, reaching $13.08. The stock had a trading volume of 119,263 shares, compared to its average volume of 95,526. Capital Product Partners has a 1-year low of $9.68 and a 1-year high of $17.36. The company’s fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $11.49. The company has a market cap of $239.04 million, a price-to-earnings ratio of 12.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.18.

Several institutional investors and hedge funds have recently bought and sold shares of CPLP. Bank of America Corp DE boosted its position in shares of Capital Product Partners by 432.1% in the 2nd quarter. Bank of America Corp DE now owns 345,873 shares of the shipping company’s stock valued at $3,631,000 after purchasing an additional 280,873 shares during the period. Morgan Stanley boosted its holdings in shares of Capital Product Partners by 386.2% in the second quarter. Morgan Stanley now owns 242,365 shares of the shipping company’s stock valued at $2,544,000 after acquiring an additional 192,516 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Capital Product Partners by 1,045.9% in the second quarter. Russell Investments Group Ltd. now owns 109,194 shares of the shipping company’s stock valued at $1,147,000 after acquiring an additional 99,665 shares during the period. BlackRock Inc. grew its position in shares of Capital Product Partners by 2,993.7% during the second quarter. BlackRock Inc. now owns 74,743 shares of the shipping company’s stock worth $785,000 after acquiring an additional 72,327 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its position in shares of Capital Product Partners by 6.2% during the third quarter. Donald Smith & CO. Inc. now owns 718,620 shares of the shipping company’s stock worth $7,689,000 after acquiring an additional 42,138 shares during the last quarter. Institutional investors and hedge funds own 19.98% of the company’s stock.

Capital Product Partners Company Profile

Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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