Capital Product Partners (NASDAQ:CPLP) Issues Earnings Results

Capital Product Partners (NASDAQ:CPLP) announced its quarterly earnings data on Friday. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.23, Zacks reports. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. The business had revenue of $97.67 million during the quarter, compared to analyst estimates of $90.22 million. During the same period last year, the firm posted $0.36 EPS.

Capital Product Partners Trading Down 2.3 %

NASDAQ CPLP traded down $0.38 on Friday, hitting $16.00. 22,638 shares of the stock were exchanged, compared to its average volume of 15,918. 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 stock has a fifty day moving average price of $17.08 and a two-hundred day moving average price of $17.23. The firm has a market capitalization of $886.24 million, a P/E ratio of 6.99 and a beta of 0.87. Capital Product Partners has a 52-week low of $12.70 and a 52-week high of $18.85.

Capital Product Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, August 6th. Capital Product Partners’s payout ratio is 26.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CPLP shares. Stifel Nicolaus cut their price objective on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 19th. StockNews.com raised shares of Capital Product Partners from a “hold” rating to a “buy” rating in a report on Friday, June 14th.

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.