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

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

Capital Product Partners Trading 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 stock’s fifty day moving average price is $16.55 and its two-hundred 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. The company has a market cap of $928.86 million, a P/E ratio of 7.32 and a beta of 0.87.

Capital Product Partners (NASDAQ:CPLP) last posted 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 return on equity of 6.30% and a net margin of 18.51%. The business had revenue of $97.67 million during the quarter, compared to analyst estimates of $90.22 million. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, analysts expect that Capital Product Partners will post 1.57 EPS for the current year.

Capital Product Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Tuesday, August 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.60 annualized dividend and a dividend yield of 3.58%. Capital Product Partners’s 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. increased its holdings in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.91% of Capital Product Partners worth $3,266,000 as of its most recent filing with the Securities & Exchange Commission.

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.