Capital Product Partners L.P. (CPLP) Trading 2.3% Higher
Capital Product Partners L.P. (NASDAQ:CPLP) shares traded up 2.3% during mid-day trading on Thursday . The company traded as high as $4.05 and last traded at $3.95, with a volume of 1,777,301 shares trading hands. The stock had previously closed at $3.86.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Wednesday. Evercore ISI downgraded shares of Capital Product Partners L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.42.
The firm has a market capitalization of $469.87 million and a price-to-earnings ratio of 10.83. The stock has a 50 day moving average price of $3.12 and a 200-day moving average price of $3.28.
Capital Product Partners L.P. (NASDAQ:CPLP) last released its earnings results on Tuesday, April 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The business earned $58 million during the quarter, compared to analysts’ expectations of $60.51 million. Equities analysts anticipate that Capital Product Partners L.P. will post $0.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date of this dividend is Wednesday, August 3rd.
An institutional investor recently raised its position in Capital Product Partners L.P. stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 508.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 205,505 shares of the company’s stock after buying an additional 171,710 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.17% of Capital Product Partners L.P. worth $1,134,000 at the end of the most recent reporting period.
Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.
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