Capital Product Partners (NASDAQ:CPLP) Earns Hold Rating from Analysts at StockNews.com

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

Capital Product Partners Price Performance

Capital Product Partners stock opened at $16.77 on Friday. Capital Product Partners has a 52-week low of $12.70 and a 52-week high of $18.85. The firm has a market capitalization of $928.86 million, a price-to-earnings ratio of 7.32 and a beta of 0.87. The company has a fifty day simple moving average of $16.56 and a 200-day simple moving average of $16.89. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 1.48.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Friday, August 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.23. The firm had revenue of $97.67 million during the quarter, compared to analyst estimates of $90.22 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Tuesday, August 6th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.60 annualized dividend and a yield of 3.58%. Capital Product Partners’s dividend payout ratio is currently 26.20%.

Hedge Funds Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.91% of Capital Product Partners worth $3,266,000 at the end of the most recent reporting period.

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.