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Capital Product Partners L.P. (CPLP) Moves 14.8% Higher: Will This Strength Last?

Zacks Equity Research
·2-min read

Capital Product Partners L.P. (CPLP) shares rallied 14.8% in the last trading session to close at $18.49. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.4% gain over the past four weeks.

Bullishness surrounding the shipping market is aiding the Capital Product Partners stock. Increased fleet utilization with the gradual resumption of economic activities and an uptick in world trade are also tailwinds. The sharp rise in LNG demand is boosting the stock immensely.

This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $68.26 million, up 90.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Capital Product Partners L.P., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CPLP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Capital Product Partners L.P. belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Scorpio Tankers (STNG), closed the last trading session 3.3% higher at $20.64. Over the past month, STNG has returned 16.9%.

Scorpio Tankers' consensus EPS estimate for the upcoming report has changed +3.6% over the past month to -$0.59. Compared to the company's year-ago EPS, this represents a change of +43.8%. Scorpio Tankers currently boasts a Zacks Rank of #3 (Hold).


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Zacks Investment Research