Capital Product Partners Stock Scheduled to Reverse Split on Thursday, March 28th (NASDAQ:CPLP)

Capital Product Partners L.P. (NASDAQ:CPLP) shares are set to reverse split before the market opens on Thursday, March 28th. The 1-7 reverse split was announced on Wednesday, March 6th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 27th.

Shares of CPLP stock traded up $0.05 during trading hours on Monday, hitting $11.24. The company’s stock had a trading volume of 135,656 shares, compared to its average volume of 102,811. The firm has a market capitalization of $208.28 million, a PE ratio of 11.47 and a beta of 1.02. Capital Product Partners has a twelve month low of $10.30 and a twelve month high of $23.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.49.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Thursday, January 31st. The shipping company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.14. The business had revenue of $61.51 million for the quarter, compared to the consensus estimate of $59.64 million. Capital Product Partners had a net margin of 0.13% and a return on equity of 3.24%. As a group, sell-side analysts anticipate that Capital Product Partners will post 1.52 earnings per share for the current year.

CPLP has been the topic of several recent analyst reports. Wells Fargo & Co downgraded shares of Capital Product Partners from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $28.00 to $21.00 in a research note on Thursday, January 10th. Zacks Investment Research raised shares of Capital Product Partners from a “hold” rating to a “buy” rating and set a $17.50 price objective on the stock in a research note on Monday, February 4th. BidaskClub raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. ValuEngine raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $14.00 price target (up previously from $12.25) on shares of Capital Product Partners in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Capital Product Partners currently has an average rating of “Buy” and an average target price of $17.88.

A number of large investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. raised its stake in Capital Product Partners by 100.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,532,859 shares of the shipping company’s stock worth $9,474,000 after purchasing an additional 2,272,183 shares during the period. JPMorgan Chase & Co. raised its stake in Capital Product Partners by 19.9% during the third quarter. JPMorgan Chase & Co. now owns 1,382,108 shares of the shipping company’s stock worth $3,843,000 after purchasing an additional 229,516 shares during the period. Goodman Financial Corp raised its stake in Capital Product Partners by 1.7% during the fourth quarter. Goodman Financial Corp now owns 963,964 shares of the shipping company’s stock worth $2,015,000 after purchasing an additional 16,522 shares during the period. Two Sigma Advisers LP raised its stake in Capital Product Partners by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 508,500 shares of the shipping company’s stock worth $1,063,000 after purchasing an additional 78,684 shares during the period. Finally, Two Sigma Investments LP raised its stake in Capital Product Partners by 273.9% during the fourth quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock worth $977,000 after purchasing an additional 342,493 shares during the period.

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Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.

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