Stifel Nicolaus Cuts Capital Product Partners (NASDAQ:CPLP) Price Target to $20.00

Capital Product Partners (NASDAQ:CPLP) had its target price cut by Stifel Nicolaus from $21.00 to $20.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the shipping company’s stock.

A number of other equities analysts also recently issued reports on the company. B. Riley upped their price target on Capital Product Partners from $19.00 to $24.00 and gave the stock a buy rating in a research report on Monday, February 5th. Jefferies Financial Group downgraded Capital Product Partners from a buy rating to a hold rating and reduced their price target for the stock from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $20.67.

Capital Product Partners Stock Down 0.9 %

Shares of NASDAQ CPLP opened at $16.75 on Friday. 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 firm has a market capitalization of $345.05 million, a price-to-earnings ratio of 7.72 and a beta of 0.86. The stock has a 50 day moving average price of $17.48 and a 200 day moving average price of $15.85. 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 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). The company had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $93.32 million. Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. During the same quarter in the prior year, the company earned $1.03 EPS. Sell-side analysts expect that Capital Product Partners will post 1.73 earnings per share for the current year.

Capital Product Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, February 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 was Monday, February 5th. Capital Product Partners’s dividend payout ratio is currently 27.65%.

Institutional Investors Weigh In On Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,580 shares of the shipping company’s stock after acquiring an additional 20,746 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.02% of Capital Product Partners worth $2,936,000 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.