Capital Product Partners L.P. (CPLP) Expected to Post Quarterly Sales of $59.96 Million

Analysts predict that Capital Product Partners L.P. (NASDAQ:CPLP) will report sales of $59.96 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Capital Product Partners’ earnings, with the lowest sales estimate coming in at $58.02 million and the highest estimate coming in at $62.37 million. Capital Product Partners reported sales of $62.40 million during the same quarter last year, which indicates a negative year over year growth rate of 3.9%. The firm is scheduled to issue its next earnings results on Tuesday, January 30th.

On average, analysts expect that Capital Product Partners will report full-year sales of $59.96 million for the current year, with estimates ranging from $232.94 million to $247.38 million. For the next year, analysts forecast that the business will post sales of $241.34 million per share, with estimates ranging from $226.00 million to $259.22 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, October 27th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $62.68 million during the quarter, compared to analyst estimates of $59.71 million. Capital Product Partners had a net margin of 17.17% and a return on equity of 4.70%.

CPLP has been the subject of several recent research reports. Zacks Investment Research lowered shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. ValuEngine upgraded shares of Capital Product Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. BidaskClub upgraded shares of Capital Product Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Jefferies Group began coverage on shares of Capital Product Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $5.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $4.75.

Shares of Capital Product Partners (NASDAQ:CPLP) opened at $3.51 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The stock has a market cap of $474.12, a P/E ratio of 12.54 and a beta of 1.58. Capital Product Partners has a 12-month low of $3.10 and a 12-month high of $4.00.

Several institutional investors and hedge funds have recently bought and sold shares of CPLP. Arrowstreet Capital Limited Partnership bought a new position in shares of Capital Product Partners in the second quarter worth approximately $3,202,000. Goodman Financial Corp bought a new position in shares of Capital Product Partners in the third quarter worth approximately $2,768,000. Susquehanna International Group LLP boosted its position in shares of Capital Product Partners by 354.2% in the second quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock worth $497,000 after purchasing an additional 114,028 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Capital Product Partners by 10.7% in the second quarter. JPMorgan Chase & Co. now owns 927,069 shares of the shipping company’s stock worth $3,152,000 after purchasing an additional 89,279 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of Capital Product Partners in the second quarter worth approximately $237,000. Institutional investors and hedge funds own 19.24% of the company’s stock.

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Capital Product Partners Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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