Capital Product Partners (NASDAQ:CPLP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a report issued on Friday 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 Friday. The company has a market capitalization of $928.86 million, a PE ratio of 7.32 and a beta of 0.87. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 1.48. Capital Product Partners has a 52-week low of $12.70 and a 52-week high of $18.85. The stock has a fifty day simple moving average of $16.56 and a 200-day simple moving average of $16.89.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, August 2nd. The shipping company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.23. The firm had revenue of $97.67 million during the quarter, compared to the consensus estimate of $90.22 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities research analysts expect that Capital Product Partners will post 1.57 earnings per share for the current fiscal year.

Capital Product Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Tuesday, August 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Tuesday, August 6th. Capital Product Partners’s dividend payout ratio (DPR) is presently 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. raised 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 filing with the Securities & Exchange Commission. The institutional investor owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 as of its most recent SEC filing.

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.