StockNews.com Initiates Coverage on Capital Product Partners (NASDAQ:CPLP)

StockNews.com began coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a research report released on Wednesday morning. The brokerage issued a hold rating on the shipping company’s stock.

Capital Product Partners Price Performance

NASDAQ:CPLP opened at $16.77 on Wednesday. The firm has a market capitalization of $928.86 million, a price-to-earnings ratio of 7.32 and a beta of 0.87. Capital Product Partners has a 1 year low of $12.70 and a 1 year high of $18.85. The business has a 50 day simple moving average of $16.57 and a 200-day simple moving average of $16.97. 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 posted its quarterly earnings data on Friday, August 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.23. The business had revenue of $97.67 million during the quarter, compared to analyst estimates of $90.22 million. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. During the same period last year, the company earned $0.36 EPS. Equities analysts forecast that Capital Product Partners will post 1.57 EPS for the current year.

Capital Product Partners Dividend Announcement

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

Institutional Investors Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 187,697 shares of the shipping company’s stock after acquiring 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 at the end of the most recent quarter.

About Capital Product Partners

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.