Capital Product Partners L.P. (NASDAQ:CPLP) to Post Q2 2024 Earnings of $0.05 Per Share, B. Riley Forecasts

Capital Product Partners L.P. (NASDAQ:CPLP) – Research analysts at B. Riley reduced their Q2 2024 earnings per share estimates for Capital Product Partners in a report released on Tuesday, April 30th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.05 per share for the quarter, down from their prior forecast of $0.43. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Capital Product Partners’ current full-year earnings is $1.54 per share. B. Riley also issued estimates for Capital Product Partners’ Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $0.71 EPS and FY2025 earnings at $0.88 EPS.

Several other analysts have also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Capital Product Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Capital Product Partners Trading Up 2.0 %

NASDAQ CPLP opened at $16.70 on Friday. The firm has a market cap of $344.02 million, a price-to-earnings ratio of 7.29 and a beta of 0.87. Capital Product Partners has a one year low of $12.02 and a one year high of $18.85. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.23. The firm has a 50 day simple moving average of $17.18 and a 200-day simple moving average of $15.99.

Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The firm had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 7.02%. During the same period in the previous year, the firm posted $1.03 earnings per share.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. raised its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 11.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 209,580 shares of the shipping company’s stock after acquiring an additional 20,746 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.02% of Capital Product Partners worth $2,936,000 at the end of the most recent reporting period.

Capital Product Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, May 6th. Capital Product Partners’s dividend payout ratio (DPR) is presently 26.20%.

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.