Capital Product Partners L.P. (CPLP) Trading Up 3.4%
Shares of Capital Product Partners L.P. (NASDAQ:CPLP) were up 3.4% during mid-day trading on Monday . The stock traded as high as $3.62 and last traded at $3.60, with a volume of 558,742 shares. The stock had previously closed at $3.48.
Several analysts have issued reports on CPLP shares. Jefferies Group restated a “buy” rating on shares of Capital Product Partners L.P. in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Capital Product Partners L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Deutsche Bank AG upped their target price on Capital Product Partners L.P. from $2.50 to $4.00 and gave the company a “hold” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.42.
The stock has a market capitalization of $432.27 million and a price-to-earnings ratio of 9.76. The company’s 50 day moving average is $3.55 and its 200 day moving average is $3.18.
Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm earned $60.90 million during the quarter, compared to the consensus estimate of $60.89 million. Equities analysts expect that Capital Product Partners L.P. will post $0.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, August 5th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 8.36%. The ex-dividend date of this dividend was Wednesday, August 3rd.
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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