Analysts forecast that Capital Product Partners L.P. (NASDAQ:CPLP) will announce $57.88 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Capital Product Partners’ earnings, with estimates ranging from $53.52 million to $62.21 million. Capital Product Partners reported sales of $65.54 million in the same quarter last year, which indicates a negative year-over-year growth rate of 11.7%. The company is expected to announce its next earnings report on Monday, April 29th.

According to Zacks, analysts expect that Capital Product Partners will report full-year sales of $137.76 million for the current fiscal year, with estimates ranging from $133.45 million to $142.38 million. For the next fiscal year, analysts anticipate that the business will report sales of $113.39 million, with estimates ranging from $103.80 million to $125.33 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Capital Product Partners.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Thursday, January 31st. The shipping company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $61.51 million for the quarter, compared to the consensus estimate of $59.64 million. Capital Product Partners had a net margin of 0.13% and a return on equity of 3.24%.

Several analysts have commented on the stock. BidaskClub downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. B. Riley assumed coverage on shares of Capital Product Partners in a report on Tuesday, December 4th. They set a “buy” rating and a $2.75 target price on the stock. ValuEngine downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Zacks Investment Research raised shares of Capital Product Partners from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Monday, February 4th. Finally, Wells Fargo & Co cut shares of Capital Product Partners from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $4.00 to $3.00 in a research note on Thursday, January 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.94.

Institutional investors and hedge funds have recently modified their holdings of the company. Goodman Financial Corp grew its stake in shares of Capital Product Partners by 2.2% during the 3rd quarter. Goodman Financial Corp now owns 947,442 shares of the shipping company’s stock worth $2,634,000 after acquiring an additional 20,602 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Capital Product Partners during the 3rd quarter worth approximately $6,285,000. Concorde Asset Management LLC bought a new position in shares of Capital Product Partners during the 4th quarter worth approximately $75,000. Aristotle Capital Boston LLC grew its stake in shares of Capital Product Partners by 14.1% in the third quarter. Aristotle Capital Boston LLC now owns 1,339,491 shares of the shipping company’s stock valued at $3,724,000 after buying an additional 165,413 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Capital Product Partners in the third quarter valued at $185,000. 20.18% of the stock is owned by institutional investors.

CPLP stock traded down $0.03 during mid-day trading on Friday, hitting $2.21. 252,900 shares of the company were exchanged, compared to its average volume of 511,393. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.49 and a current ratio of 0.56. The company has a market capitalization of $295.03 million, a P/E ratio of 16.25 and a beta of 1.11. Capital Product Partners has a 1-year low of $2.05 and a 1-year high of $3.31.

Shares of Capital Product Partners are going to reverse split before the market opens on Thursday, March 28th. The 1-7 reverse split was announced on Wednesday, March 6th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 27th.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Tuesday, February 5th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, February 4th. This represents a $0.18 annualized dividend and a dividend yield of 8.14%. Capital Product Partners’s dividend payout ratio is currently 128.57%.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.

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