Capital Product Partners (NASDAQ:CPLP) Issues Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Capital Product Partners (NASDAQ:CPLP) posted its quarterly earnings data on Friday. The shipping company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.17 by $0.23, Zacks reports. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. The firm had revenue of $97.67 million during the quarter, compared to the consensus estimate of $90.22 million. During the same period in the prior year, the company earned $0.36 EPS.

Capital Product Partners Trading Down 2.3 %

NASDAQ:CPLP traded down $0.38 during trading hours on Friday, hitting $16.00. The company had a trading volume of 22,638 shares, compared to its average volume of 15,918. The company has a market cap of $886.24 million, a P/E ratio of 6.99 and a beta of 0.87. The company has a current ratio of 1.41, a quick ratio of 1.20 and a debt-to-equity ratio of 1.48. Capital Product Partners has a 1 year low of $12.70 and a 1 year high of $18.85. The company has a 50-day moving average of $17.08 and a 200 day moving average of $17.23.

Capital Product Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Tuesday, August 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, August 6th. Capital Product Partners’s payout ratio is currently 26.20%.

Analyst Upgrades and Downgrades

CPLP has been the subject of several recent research reports. Stifel Nicolaus reduced their price objective on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 19th. StockNews.com upgraded Capital Product Partners from a “hold” rating to a “buy” rating in a report on Friday, June 14th.

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.