KNOT Offshore Partners (KNOP) Posts Earnings Results, Beats Expectations By $0.39 EPS

KNOT Offshore Partners (NYSE:KNOP) posted its quarterly earnings data on Tuesday. The shipping company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.39, Zacks reports. The company had revenue of $68.04 million for the quarter, compared to the consensus estimate of $68.51 million. KNOT Offshore Partners had a net margin of 36.06% and a return on equity of 14.00%.

Shares of KNOT Offshore Partners traded up $0.15, reaching $21.20, during trading hours on Thursday, according to MarketBeat Ratings. The stock had a trading volume of 215 shares, compared to its average volume of 90,787. KNOT Offshore Partners has a 12 month low of $19.15 and a 12 month high of $24.00. 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 cap of $681.67 million, a P/E ratio of 9.38 and a beta of 0.67.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 9.81%. The ex-dividend date was Tuesday, May 1st. KNOT Offshore Partners’s dividend payout ratio is currently 92.04%.

A number of research firms have commented on KNOP. TheStreet raised shares of KNOT Offshore Partners from a “c” rating to a “b-” rating in a research report on Wednesday, February 21st. Zacks Investment Research downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. Citigroup dropped their price target on KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 28th. Finally, ValuEngine downgraded KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. KNOT Offshore Partners presently has a consensus rating of “Hold” and an average price target of $21.00.

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.

Earnings History for KNOT Offshore Partners (NYSE:KNOP)

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