Capital Product Partners L.P. (CPLP) to Issue Quarterly Dividend of $0.15 on May 14th

Capital Product Partners L.P. (NASDAQ:CPLP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.15 per share by the shipping company on Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, May 6th.

Capital Product Partners has decreased its dividend by an average of 12.6% annually over the last three years. Capital Product Partners has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Capital Product Partners to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.5%.

Capital Product Partners Stock Up 2.8 %

Shares of Capital Product Partners stock traded up $0.45 during midday trading on Friday, hitting $16.65. The company had a trading volume of 17,519 shares, compared to its average volume of 20,999. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.96 and a current ratio of 0.99. The stock has a market capitalization of $342.99 million, a P/E ratio of 7.67 and a beta of 0.86. The company has a 50 day moving average of $17.35 and a 200 day moving average of $15.90. Capital Product Partners has a 52-week low of $12.02 and a 52-week high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. The company had revenue of $92.50 million during the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts predict that Capital Product Partners will post 1.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPLP. B. Riley increased their target price on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $18.00 in a report on Tuesday, February 27th. Finally, Stifel Nicolaus lowered their price target on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

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.