Wall Street brokerages predict that Capital Product Partners L.P. (NASDAQ:CPLP) will announce $25.53 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Capital Product Partners’ earnings. The highest sales estimate is $26.72 million and the lowest is $24.18 million. Capital Product Partners reported sales of $61.51 million during the same quarter last year, which indicates a negative year over year growth rate of 58.5%. The company is expected to issue its next quarterly earnings results on Thursday, January 30th.

On average, 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 financial year, analysts expect that the business will report sales of $111.86 million, with estimates ranging from $108.36 million to $118.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, missing the 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 company had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.22 million.

A number of brokerages have recently issued reports on CPLP. TheStreet upgraded Capital Product Partners from a “d+” rating to a “c-” rating in a report on Monday, October 14th. Zacks Investment Research lowered Capital Product Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 19th. Finally, ValuEngine raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Capital Product Partners has a consensus rating of “Hold” and a consensus price target of $15.67.

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in Capital Product Partners by 410.5% in the second quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock valued at $98,000 after purchasing an additional 7,491 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Capital Product Partners in the second quarter valued at $110,000. Sunbelt Securities Inc. purchased a new stake in shares of Capital Product Partners in the third quarter valued at about $160,000. HighTower Advisors LLC acquired a new stake in shares of Capital Product Partners during the second quarter worth about $230,000. Finally, Royal Bank of Canada boosted its stake in shares of Capital Product Partners by 494.9% during the second quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock worth $248,000 after buying an additional 19,627 shares during the period. Institutional investors own 20.07% of the company’s stock.

NASDAQ CPLP traded up $0.08 during trading hours on Friday, reaching $11.78. The company’s stock had a trading volume of 174 shares, compared to its average volume of 79,995. The company has a market capitalization of $209.77 million, a price-to-earnings ratio of 11.98 and a beta of 1.07. The firm’s 50-day moving average price is $11.64 and its 200-day moving average price is $10.90. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Capital Product Partners has a 1 year low of $9.68 and a 1 year high of $17.64.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 10.70%. The ex-dividend date of this dividend was Thursday, October 31st. Capital Product Partners’s dividend payout ratio (DPR) is currently 128.57%.

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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Earnings History and Estimates for Capital Product Partners (NASDAQ:CPLP)

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