$59.70 Million in Sales Expected for Capital Product Partners L.P. (CPLP) This Quarter

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.

How to Become a New Pot Stock Millionaire

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.

COPYRIGHT VIOLATION NOTICE: “$59.70 Million in Sales Expected for Capital Product Partners L.P. (CPLP) This Quarter” was first reported by Macon Daily and is owned by of Macon Daily. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://macondaily.com/2018/04/12/59-70-million-in-sales-expected-for-capital-product-partners-l-p-cplp-this-quarter.html.

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.

Get a free copy of the Zacks research report on Capital Product Partners (CPLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Capital Product Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Product Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply