StockNews.com Initiates Coverage on Capital Product Partners (NASDAQ:CPLP)

Equities researchers at StockNews.com assumed coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the shipping company’s stock.

Capital Product Partners Stock Up 2.1 %

Shares of NASDAQ:CPLP opened at $16.77 on Friday. Capital Product Partners has a 1 year low of $12.70 and a 1 year high of $18.85. The company has a market cap of $928.86 million, a PE ratio of 7.32 and a beta of 0.87. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.41 and a quick ratio of 1.20. The stock’s 50-day moving average is $16.55 and its 200 day moving average is $16.90.

Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings results on Friday, August 2nd. The shipping company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.23. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. The firm had revenue of $97.67 million for the quarter, compared to analysts’ expectations of $90.22 million. During the same period in the previous year, the firm posted $0.36 EPS. Sell-side analysts anticipate that Capital Product Partners will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,697 shares of the shipping company’s stock after acquiring an additional 28,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 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.