Equities research analysts expect Capital Product Partners L.P. (NASDAQ:CPLP) to announce sales of $59.70 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Capital Product Partners’ earnings. The lowest sales estimate is $58.18 million and the highest is $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 company is expected to issue 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 fiscal year, with estimates ranging from $238.84 million to $257.33 million. For the next year, analysts anticipate that the firm will report 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 an average based on a survey of analysts that that provide coverage for Capital Product Partners.
Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $64.11 million during the quarter, compared to analysts’ expectations of $59.70 million. Capital Product Partners had a net margin of 14.31% and a return on equity of 4.30%.
Several research analysts have recently weighed in on CPLP shares. Zacks Investment Research cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. BidaskClub cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. ValuEngine cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. TheStreet cut shares of Capital Product Partners from a “b-” rating to a “c” rating in a report on Friday, February 2nd. Finally, Jefferies Group began coverage on shares of Capital Product Partners in a report on Monday, December 18th. They set a “buy” rating and a $5.00 target price for the company. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.50.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in Capital Product Partners during the fourth quarter worth $131,000. LPL Financial LLC boosted its holdings in Capital Product Partners by 57.7% during the fourth quarter. LPL Financial LLC now owns 46,536 shares of the shipping company’s stock worth $156,000 after purchasing an additional 17,019 shares during the last quarter. Millennium Management LLC boosted its holdings in Capital Product Partners by 32.6% during the fourth quarter. Millennium Management LLC now owns 93,614 shares of the shipping company’s stock worth $315,000 after purchasing an additional 23,015 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Capital Product Partners by 23.9% during the fourth quarter. Two Sigma Advisers LP now owns 732,416 shares of the shipping company’s stock worth $2,461,000 after purchasing an additional 141,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Capital Product Partners by 13.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,763,343 shares of the shipping company’s stock worth $9,285,000 after purchasing an additional 323,257 shares during the last quarter. Institutional investors and hedge funds own 18.40% of the company’s stock.
Shares of Capital Product Partners stock traded up $0.02 on Friday, hitting $3.19. The company had a trading volume of 248,372 shares, compared to its average volume of 425,104. The stock has a market capitalization of $413.05, a PE ratio of 12.76 and a beta of 1.25. Capital Product Partners has a twelve month low of $2.98 and a twelve month high of $4.00. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.49.
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Capital Product Partners Company Profile
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
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