Capital Product Partners L.P. to Issue Quarterly Dividend of $0.15 (NASDAQ:CPLP)

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

Capital Product Partners has decreased its dividend payment by an average of 12.6% annually over the last three years. Capital Product Partners has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NASDAQ CPLP traded up $0.45 during trading hours on Friday, hitting $16.65. 17,519 shares of the stock were exchanged, compared to its average volume of 20,999. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.99 and a quick ratio of 0.96. The company’s 50 day moving average is $17.35 and its 200 day moving average is $15.90. The firm has a market capitalization of $342.99 million, a P/E ratio of 7.67 and a beta of 0.86. Capital Product Partners has a one year low of $12.02 and a one year high of $18.85.

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

Wall Street Analysts Forecast Growth

CPLP has been the subject of a number of analyst reports. B. Riley raised their price objective on shares of Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 19th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.