Brokerages forecast that KNOT Offshore Partners LP (NYSE:KNOP) will post $69.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for KNOT Offshore Partners’ earnings, with estimates ranging from $69.60 million to $70.09 million. KNOT Offshore Partners posted sales of $68.04 million during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The company is expected to report its next earnings report before the market opens on Friday, May 24th.
On average, analysts expect that KNOT Offshore Partners will report full-year sales of $282.66 million for the current financial year, with estimates ranging from $281.50 million to $283.82 million. For the next fiscal year, analysts expect that the firm will report sales of $281.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.35). The business had revenue of $70.93 million for the quarter, compared to analyst estimates of $70.14 million. KNOT Offshore Partners had a return on equity of 12.64% and a net margin of 29.40%.
KNOP has been the subject of a number of analyst reports. TheStreet raised shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research note on Thursday, March 14th. Barclays reissued a “hold” rating and set a $20.00 target price on shares of KNOT Offshore Partners in a research note on Monday, March 18th. Finally, Zacks Investment Research downgraded shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 30th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP increased its stake in KNOT Offshore Partners by 29.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock valued at $45,121,000 after purchasing an additional 547,500 shares in the last quarter. Green Square Capital LLC increased its stake in KNOT Offshore Partners by 4.9% in the fourth quarter. Green Square Capital LLC now owns 578,512 shares of the shipping company’s stock valued at $10,373,000 after purchasing an additional 27,130 shares in the last quarter. First Trust Advisors LP increased its stake in KNOT Offshore Partners by 23.3% in the first quarter. First Trust Advisors LP now owns 416,473 shares of the shipping company’s stock valued at $7,909,000 after purchasing an additional 78,634 shares in the last quarter. Renaissance Technologies LLC increased its stake in KNOT Offshore Partners by 34.2% in the first quarter. Renaissance Technologies LLC now owns 366,100 shares of the shipping company’s stock valued at $6,952,000 after purchasing an additional 93,200 shares in the last quarter. Finally, Morgan Stanley increased its stake in KNOT Offshore Partners by 6.9% in the first quarter. Morgan Stanley now owns 314,149 shares of the shipping company’s stock valued at $5,965,000 after purchasing an additional 20,280 shares in the last quarter. 40.85% of the stock is owned by hedge funds and other institutional investors.
NYSE KNOP traded up $0.25 during mid-day trading on Thursday, reaching $19.80. 44,457 shares of the stock were exchanged, compared to its average volume of 113,584. KNOT Offshore Partners has a one year low of $17.18 and a one year high of $22.75. The company has a market capitalization of $644.94 million, a PE ratio of 7.89 and a beta of 0.60. The company has a quick ratio of 0.39, a current ratio of 0.41 and a debt-to-equity ratio of 1.51.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date was Wednesday, May 1st. KNOT Offshore Partners’s dividend payout ratio is presently 82.87%.
KNOT Offshore Partners Company Profile
KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, it had a fleet of 16 shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.
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