Wall Street brokerages forecast that KNOT Offshore Partners LP (NYSE:KNOP) will post sales of $70.14 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 $70.68 million. KNOT Offshore Partners reported sales of $61.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, March 14th.
On average, analysts expect that KNOT Offshore Partners will report full year sales of $278.70 million for the current financial year, with estimates ranging from $278.20 million to $279.20 million. For the next financial year, analysts expect that the company will post sales of $281.91 million, with estimates ranging from $280.00 million to $283.82 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Monday, November 26th. The shipping company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. KNOT Offshore Partners had a return on equity of 14.16% and a net margin of 34.05%. The business had revenue of $70.72 million for the quarter, compared to analysts’ expectations of $70.03 million.
A number of research analysts have recently commented on the stock. ValuEngine cut shares of KNOT Offshore Partners from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Zacks Investment Research cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in KNOT Offshore Partners by 8.1% in the second quarter. California Public Employees Retirement System now owns 39,640 shares of the shipping company’s stock worth $878,000 after purchasing an additional 2,954 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of KNOT Offshore Partners by 32.2% during the 3rd quarter. First Trust Advisors LP now owns 298,317 shares of the shipping company’s stock worth $6,473,000 after acquiring an additional 72,588 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of KNOT Offshore Partners in the third quarter worth about $161,000. Ballentine Partners LLC boosted its position in shares of KNOT Offshore Partners by 72.5% during the 3rd quarter. Ballentine Partners LLC now owns 39,618 shares of the shipping company’s stock worth $859,000 after acquiring an additional 16,650 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its holdings in KNOT Offshore Partners by 64.8% in the third quarter. Mckinley Capital Management LLC Delaware now owns 61,652 shares of the shipping company’s stock valued at $1,338,000 after acquiring an additional 24,247 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KNOT Offshore Partners stock opened at $18.43 on Thursday. The company has a market cap of $603.53 million, a P/E ratio of 8.15 and a beta of 0.62. KNOT Offshore Partners has a 1 year low of $17.18 and a 1 year high of $22.75. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.51 and a quick ratio of 0.50.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Friday, February 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $2.08 dividend on an annualized basis and a yield of 11.29%. KNOT Offshore Partners’s dividend payout ratio (DPR) is presently 92.04%.
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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