KNOT Offshore Partners (KNOP) Expected to Post Quarterly Sales of $67.01 Million

Brokerages predict that KNOT Offshore Partners (NYSE:KNOP) will announce sales of $67.01 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for KNOT Offshore Partners’ earnings, with the lowest sales estimate coming in at $66.10 million and the highest estimate coming in at $67.92 million. KNOT Offshore Partners reported sales of $44.99 million during the same quarter last year, which indicates a positive year-over-year growth rate of 48.9%. The company is expected to announce its next quarterly earnings report on Tuesday, May 15th.

On average, analysts expect that KNOT Offshore Partners will report full-year sales of $273.94 million for the current fiscal year, with estimates ranging from $271.70 million to $276.18 million. For the next fiscal 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 calculations 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 Tuesday, February 20th. The shipping company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.06. KNOT Offshore Partners had a net margin of 31.05% and a return on equity of 10.92%. The firm had revenue of $61.59 million for the quarter, compared to analysts’ expectations of $58.69 million.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. TheStreet upgraded shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research note on Wednesday, February 21st. Citigroup lowered their price objective on shares of KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 28th. Finally, ValuEngine cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Shares of NYSE:KNOP traded up $0.21 during trading on Friday, hitting $20.36. The company’s stock had a trading volume of 50,495 shares, compared to its average volume of 116,057. KNOT Offshore Partners has a 12 month low of $19.15 and a 12 month high of $24.42. The company has a quick ratio of 0.44, a current ratio of 0.46 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $658.79, a PE ratio of 8.92 and a beta of 0.68.

Large investors have recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of KNOT Offshore Partners in the 4th quarter worth approximately $867,000. 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 acquiring 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 acquiring an additional 3,979 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 acquiring an additional 11,400 shares in the last quarter. Finally, 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 acquiring an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 45.07% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://sportsperspectives.com/2018/04/16/knot-offshore-partners-knop-expected-to-post-quarterly-sales-of-67-01-million.html.

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.

Get a free copy of the Zacks research report on KNOT Offshore Partners (KNOP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for KNOT Offshore Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply