Capital Product Partners (NASDAQ:CPLP) PT Lowered to $20.00

Capital Product Partners (NASDAQ:CPLP) had its price objective trimmed by Stifel Nicolaus from $21.00 to $20.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the shipping company’s stock.

CPLP has been the topic of a number of other research reports. Jefferies Financial Group lowered Capital Product Partners from a buy rating to a hold rating and reduced their price target for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. B. Riley upped their price target on Capital Product Partners from $19.00 to $24.00 and gave the company a buy rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $20.67.

Capital Product Partners Price Performance

Shares of CPLP opened at $16.90 on Friday. Capital Product Partners has a 12-month low of $12.02 and a 12-month high of $18.85. The business has a 50-day simple moving average of $17.54 and a two-hundred day simple moving average of $15.78. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 2.27. The stock has a market cap of $348.14 million, a PE ratio of 7.79 and a beta of 0.86.

Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. The firm had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. During the same period in the previous year, the company earned $1.03 EPS. Analysts anticipate that Capital Product Partners will post 1.79 earnings per share for the current fiscal year.

Capital Product Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, February 6th were given a $0.15 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.55%. Capital Product Partners’s dividend payout ratio (DPR) is presently 27.65%.

Institutional Investors Weigh In On Capital Product Partners

Several institutional investors and hedge funds have recently made changes to their positions in CPLP. Goldman Sachs Group Inc. boosted its position in shares of Capital Product Partners by 597.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock valued at $5,052,000 after purchasing an additional 237,362 shares in the last quarter. State Street Corp bought a new stake in shares of Capital Product Partners during the 3rd quarter valued at about $857,000. BNP Paribas Arbitrage SA boosted its position in shares of Capital Product Partners by 2,886,050.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock valued at $1,052,000 after purchasing an additional 57,721 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Capital Product Partners by 11.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock valued at $2,936,000 after purchasing an additional 20,746 shares in the last quarter. Finally, Wolverine Trading LLC bought a new stake in shares of Capital Product Partners during the 4th quarter valued at about $270,000.

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.