Wall Street analysts expect KNOT Offshore Partners LP (NYSE:KNOP) to announce sales of $70.03 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for KNOT Offshore Partners’ earnings, with the lowest sales estimate coming in at $69.50 million and the highest estimate coming in at $70.56 million. KNOT Offshore Partners reported sales of $58.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The company is expected to report its next quarterly earnings results on Friday, November 2nd.
On average, analysts expect that KNOT Offshore Partners will report full-year sales of $278.09 million for the current financial year, with estimates ranging from $277.70 million to $278.47 million. For the next fiscal year, analysts anticipate that the company will report sales of $280.91 million, with estimates ranging from $278.92 million to $282.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last issued its quarterly earnings data on Tuesday, September 4th. The shipping company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.20. The firm had revenue of $69.77 million during the quarter, compared to analyst estimates of $67.77 million. KNOT Offshore Partners had a return on equity of 14.64% and a net margin of 35.76%.
Several hedge funds and other institutional investors have recently made changes to their positions in KNOP. Eagle Global Advisors LLC boosted its stake in shares of KNOT Offshore Partners by 13.6% in the 2nd quarter. Eagle Global Advisors LLC now owns 2,291,332 shares of the shipping company’s stock worth $50,753,000 after buying an additional 274,835 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of KNOT Offshore Partners by 94.9% in the 2nd quarter. Renaissance Technologies LLC now owns 243,100 shares of the shipping company’s stock worth $5,385,000 after buying an additional 118,400 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of KNOT Offshore Partners by 32.2% in the 3rd quarter. First Trust Advisors LP now owns 298,317 shares of the shipping company’s stock worth $6,473,000 after buying an additional 72,588 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of KNOT Offshore Partners in the 2nd quarter worth approximately $828,000. Finally, Taylor Frigon Capital Management LLC purchased a new position in shares of KNOT Offshore Partners in the 2nd quarter worth approximately $813,000. Hedge funds and other institutional investors own 40.32% of the company’s stock.
KNOP traded down $0.09 during midday trading on Friday, reaching $20.68. 140,328 shares of the company were exchanged, compared to its average volume of 78,373. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.50 and a current ratio of 0.52. The firm has a market capitalization of $679.06 million, a P/E ratio of 9.15 and a beta of 0.58. KNOT Offshore Partners has a one year low of $19.15 and a one year high of $23.74.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Thursday, November 1st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 10.06%. KNOT Offshore Partners’s payout ratio is presently 92.04%.
About KNOT Offshore Partners
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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