Wall Street analysts expect that KNOT Offshore Partners (NYSE:KNOP) will post sales of $67.01 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for KNOT Offshore Partners’ earnings, with estimates ranging from $66.10 million to $67.92 million. KNOT Offshore Partners reported sales of $44.99 million in the same quarter last year, which indicates a positive year over year growth rate of 48.9%. The business is expected to report its next earnings results on Tuesday, May 15th.
On average, analysts expect that KNOT Offshore Partners will report full-year sales of $273.94 million for the current year, with estimates ranging from $271.70 million to $276.18 million. For the next financial year, analysts anticipate that the business will report sales of $277.77 million per share, with estimates ranging from $274.84 million to $280.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last posted its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $61.59 million during the quarter, compared to analyst estimates of $58.69 million. KNOT Offshore Partners had a return on equity of 10.92% and a net margin of 31.05%.
Several research firms have recently issued reports on KNOP. Citigroup lowered their price target on KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, March 28th. Zacks Investment Research lowered KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. TheStreet raised KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Wednesday, February 21st. Finally, ValuEngine lowered KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. KNOT Offshore Partners has a consensus rating of “Hold” and an average target price of $21.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Green Square Capital LLC increased its holdings in KNOT Offshore Partners by 0.7% in the 4th quarter. Green Square Capital LLC now owns 376,090 shares of the shipping company’s stock worth $7,804,000 after buying an additional 2,670 shares in the last quarter. Citadel Advisors LLC increased its holdings in KNOT Offshore Partners by 36.8% in the 4th quarter. Citadel Advisors LLC now owns 14,779 shares of the shipping company’s stock worth $307,000 after buying an additional 3,979 shares in the last quarter. Naples Global Advisors LLC increased its holdings in KNOT Offshore Partners by 24.8% in the 4th quarter. Naples Global Advisors LLC now owns 21,125 shares of the shipping company’s stock worth $438,000 after buying an additional 4,200 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in KNOT Offshore Partners by 16.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,150 shares of the shipping company’s stock worth $1,663,000 after buying an additional 11,400 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in KNOT Offshore Partners by 246.4% in the 4th quarter. Millennium Management LLC now owns 43,294 shares of the shipping company’s stock worth $898,000 after buying an additional 30,795 shares in the last quarter. Institutional investors own 45.07% of the company’s stock.
Shares of KNOP traded up $0.10 during trading hours on Friday, hitting $20.75. The company had a trading volume of 81,154 shares, compared to its average volume of 116,076. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.46 and a quick ratio of 0.44. The firm has a market cap of $676.77, a PE ratio of 9.18 and a beta of 0.68. KNOT Offshore Partners has a 52-week low of $19.15 and a 52-week high of $24.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $2.08 annualized dividend and a yield of 10.02%. KNOT Offshore Partners’s payout ratio is 92.04%.
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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 crude oil loading, transportation, and storage services under time charters and bareboat charters. As of June 30, 2017, it had a fleet of 13 shuttle tankers. KNOT Offshore Partners GP LLC serves as the general partner of the company.
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