Capital Product Partners L.P. (CPLP) To Go Ex-Dividend on August 6th

Capital Product Partners L.P. (NASDAQ:CPLP) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Tuesday, August 6th will be paid a dividend of 0.15 per share by the shipping company on Monday, August 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Tuesday, August 6th.

Capital Product Partners has decreased its dividend by an average of 12.6% annually over the last three years. Capital Product Partners has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Capital Product Partners to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.3%.

Capital Product Partners Stock Down 0.2 %

Capital Product Partners stock opened at $16.70 on Friday. Capital Product Partners has a fifty-two week low of $12.70 and a fifty-two week high of $18.85. The company has a market cap of $925.01 million, a PE ratio of 7.29 and a beta of 0.87. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.20 and a current ratio of 1.41. The business’s 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $17.26.

Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Tuesday, April 30th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $100.64 million during the quarter, compared to analysts’ expectations of $101.95 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. Equities analysts anticipate that Capital Product Partners will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

CPLP has been the topic of a number of analyst reports. StockNews.com upgraded Capital Product Partners from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Stifel Nicolaus dropped their price objective on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

About Capital Product Partners

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.