$68.51 Million in Sales Expected for KNOT Offshore Partners (KNOP) This Quarter

Wall Street brokerages expect KNOT Offshore Partners (NYSE:KNOP) to post sales of $68.51 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for KNOT Offshore Partners’ earnings, with estimates ranging from $67.92 million to $69.10 million. KNOT Offshore Partners posted sales of $44.99 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 52.3%. The company is scheduled to report its next earnings report before the market opens on Wednesday, June 6th.

According to Zacks, analysts expect that KNOT Offshore Partners will report full-year sales of $275.44 million for the current financial year, with estimates ranging from $274.70 million to $276.18 million. For the next fiscal year, analysts anticipate that the firm will report sales of $277.77 million per share, with estimates ranging from $274.84 million to $280.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow KNOT Offshore Partners.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. KNOT Offshore Partners had a return on equity of 10.92% and a net margin of 31.05%. The business had revenue of $61.59 million during the quarter, compared to the consensus estimate of $58.69 million.

Several equities research analysts have issued reports on KNOP shares. TheStreet raised KNOT Offshore Partners from a “c” rating to a “b-” rating in a report on Wednesday, February 21st. ValuEngine upgraded KNOT Offshore Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, Citigroup lowered their price objective on KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Shares of KNOT Offshore Partners opened at $20.25 on Friday, MarketBeat.com reports. KNOT Offshore Partners has a 1 year low of $20.20 and a 1 year high of $20.30. The firm has a market cap of $666.96 million, a price-to-earnings ratio of 9.03 and a beta of 0.67. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Wednesday, May 2nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 10.27%. The ex-dividend date of this dividend was Tuesday, May 1st. KNOT Offshore Partners’s payout ratio is 92.04%.

A number of hedge funds have recently bought and sold shares of the business. Green Square Capital LLC increased its position in KNOT Offshore Partners by 0.7% during 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 during the period. Wells Fargo & Company MN increased its position in KNOT Offshore Partners by 31.7% during the 1st quarter. Wells Fargo & Company MN now owns 11,966 shares of the shipping company’s stock worth $237,000 after buying an additional 2,878 shares during the period. Citadel Advisors LLC increased its position in KNOT Offshore Partners by 36.8% during 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 during the period. Naples Global Advisors LLC increased its position in KNOT Offshore Partners by 24.8% during 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 during the period. Finally, Guggenheim Capital LLC increased its position in KNOT Offshore Partners by 6.3% during the 1st quarter. Guggenheim Capital LLC now owns 138,313 shares of the shipping company’s stock worth $2,739,000 after buying an additional 8,256 shares during the period. Hedge funds and other institutional investors own 44.84% of the company’s stock.

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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