Brokerages Anticipate KNOT Offshore Partners LP (KNOP) Will Post Quarterly Sales of $69.84 Million

Analysts forecast that KNOT Offshore Partners LP (NYSE:KNOP) will report sales of $69.84 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for KNOT Offshore Partners’ earnings. The lowest sales estimate is $69.60 million and the highest is $70.09 million. KNOT Offshore Partners reported sales of $68.04 million in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, May 24th.

According to Zacks, analysts expect that KNOT Offshore Partners will report full-year sales of $282.66 million for the current fiscal year, with estimates ranging from $281.50 million to $283.82 million. For the next fiscal year, analysts anticipate that the firm will post sales of $281.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for KNOT Offshore Partners.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Wednesday, March 13th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.35). The company 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 research reports. ValuEngine cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Zacks Investment Research cut shares of KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 30th. TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research note on Thursday, March 14th. Finally, Barclays restated a “hold” rating and set a $20.00 target price on shares of KNOT Offshore Partners in a research note on Monday, March 18th.

Several hedge funds and other institutional investors have recently bought and sold shares of KNOP. SeaBridge Investment Advisors LLC bought a new position in KNOT Offshore Partners during the fourth quarter worth about $36,000. IFP Advisors Inc bought a new position in KNOT Offshore Partners during the fourth quarter worth about $74,000. AllSquare Wealth Management LLC increased its position in KNOT Offshore Partners by 25.0% during the first quarter. AllSquare Wealth Management LLC now owns 5,000 shares of the shipping company’s stock worth $95,000 after acquiring an additional 1,000 shares during the period. Stifel Financial Corp bought a new position in KNOT Offshore Partners during the fourth quarter worth about $197,000. Finally, Koshinski Asset Management Inc. bought a new position in KNOT Offshore Partners during the first quarter worth about $198,000. Institutional investors own 40.85% of the company’s stock.

NYSE KNOP opened at $19.51 on Thursday. 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 stock has a market cap of $638.76 million, a PE ratio of 7.73 and a beta of 0.60. KNOT Offshore Partners has a 52-week low of $17.18 and a 52-week high of $22.75.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders 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 dividend yield of 10.66%. 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 loading, transportation and storage of their crude oil services under time charters and bareboat charters. As of April 25, 2018, 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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