Zacks: Brokerages Anticipate KNOT Offshore Partners LP (KNOP) to Post $0.63 EPS

Analysts forecast that KNOT Offshore Partners LP (NYSE:KNOP) will report $0.63 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for KNOT Offshore Partners’ earnings. KNOT Offshore Partners posted earnings per share of $0.71 in the same quarter last year, which suggests a negative year-over-year growth rate of 11.3%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, November 27th.

On average, analysts expect that KNOT Offshore Partners will report full year earnings of $2.75 per share for the current financial year. For the next year, analysts expect that the firm will post earnings of $2.45 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for KNOT Offshore Partners.

KNOT Offshore Partners (NYSE:KNOP) last announced its quarterly earnings results on Tuesday, September 4th. The shipping company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. The firm had revenue of $69.77 million during the quarter, compared to the consensus estimate of $67.77 million. KNOT Offshore Partners had a return on equity of 14.64% and a net margin of 35.76%.

Several research firms have recently weighed in on KNOP. Zacks Investment Research raised KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Saturday, September 8th. ValuEngine upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a report on Thursday, October 18th.

Several large investors have recently made changes to their positions in the stock. Virtus Alternative Investment Advisers Inc. purchased a new stake in shares of KNOT Offshore Partners during the 3rd quarter valued at about $4,579,000. Renaissance Technologies LLC increased its holdings in KNOT Offshore Partners by 27.8% during the 3rd quarter. Renaissance Technologies LLC now owns 310,700 shares of the shipping company’s stock worth $6,742,000 after purchasing an additional 67,600 shares during the last quarter. Advisory Research Inc. increased its holdings in KNOT Offshore Partners by 5.2% during the 3rd quarter. Advisory Research Inc. now owns 1,664,975 shares of the shipping company’s stock worth $36,130,000 after purchasing an additional 82,250 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in KNOT Offshore Partners by 64.8% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 61,652 shares of the shipping company’s stock worth $1,338,000 after purchasing an additional 24,247 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in 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 purchasing an additional 16,650 shares during the last quarter. Institutional investors and hedge funds own 40.45% of the company’s stock.

KNOP traded down $0.03 on Friday, reaching $20.27. The company’s stock had a trading volume of 52,213 shares, compared to its average volume of 92,022. The company has a quick ratio of 0.50, a current ratio of 0.52 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $662.71 million, a price-to-earnings ratio of 8.97 and a beta of 0.54. KNOT Offshore Partners has a fifty-two week low of $19.15 and a fifty-two week high of $22.75.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Thursday, November 1st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $2.08 annualized dividend and a dividend yield of 10.26%. KNOT Offshore Partners’s payout ratio is currently 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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