Capital Product Partners (NASDAQ:CPLP) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a report published on Thursday. The firm issued a hold rating on the shipping company’s stock.

Capital Product Partners Stock Up 2.1 %

NASDAQ:CPLP opened at $16.77 on Thursday. Capital Product Partners has a 1-year low of $12.70 and a 1-year high of $18.85. The company has a market capitalization of $928.86 million, a PE ratio of 7.32 and a beta of 0.87. The firm’s 50-day moving average price is $16.55 and its 200-day moving average price is $16.92. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.41 and a quick ratio of 1.20.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, August 2nd. The shipping company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.23. 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 the consensus estimate of $90.22 million. During the same quarter last year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Capital Product Partners will post 1.57 EPS for the current fiscal year.

Capital Product Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Tuesday, August 6th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Tuesday, August 6th. Capital Product Partners’s dividend payout ratio is presently 26.20%.

Institutional Trading of Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,697 shares of the shipping company’s stock after buying an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 as of its most recent SEC filing.

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.