Brokerages forecast that KNOT Offshore Partners LP (NYSE:KNOP) will post sales of $70.14 million for the current quarter, Zacks reports. Two analysts have provided estimates for KNOT Offshore Partners’ earnings, with the highest sales estimate coming in at $70.68 million and the lowest estimate coming in at $69.60 million. KNOT Offshore Partners reported sales of $61.59 million in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, March 14th.

On average, analysts expect that KNOT Offshore Partners will report full year sales of $278.70 million for the current year, with estimates ranging from $278.20 million to $279.20 million. For the next financial year, analysts expect that the company will post sales of $281.91 million, with estimates ranging from $280.00 million to $283.82 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for KNOT Offshore Partners.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Monday, November 26th. The shipping company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $70.72 million during the quarter, compared to the consensus estimate of $70.03 million. KNOT Offshore Partners had a return on equity of 14.16% and a net margin of 34.05%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded KNOT Offshore Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine downgraded KNOT Offshore Partners from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th.

Shares of KNOT Offshore Partners stock traded down $0.06 during trading hours on Thursday, reaching $18.58. 72,800 shares of the stock traded hands, compared to its average volume of 117,989. The company has a market cap of $609.34 million, a P/E ratio of 8.22 and a beta of 0.62. KNOT Offshore Partners has a one year low of $17.18 and a one year high of $22.75. The company has a quick ratio of 0.50, a current ratio of 0.51 and a debt-to-equity ratio of 1.53.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Friday, February 1st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 11.19%. KNOT Offshore Partners’s dividend payout ratio is currently 92.04%.

Several institutional investors have recently added to or reduced their stakes in KNOP. Virtus Alternative Investment Advisers Inc. bought a new stake in shares of KNOT Offshore Partners during the 3rd quarter valued at about $4,579,000. Advisory Research Inc. grew its stake in shares of 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 valued at $36,130,000 after purchasing an additional 82,250 shares during the period. First Trust Advisors LP grew its stake in shares of KNOT Offshore Partners by 32.2% during the 3rd quarter. First Trust Advisors LP now owns 298,317 shares of the shipping company’s stock valued at $6,473,000 after purchasing an additional 72,588 shares during the period. Renaissance Technologies LLC grew its stake in shares of KNOT Offshore Partners by 27.8% during the 3rd quarter. Renaissance Technologies LLC now owns 310,700 shares of the shipping company’s stock valued at $6,742,000 after purchasing an additional 67,600 shares during the period. Finally, Green Square Capital LLC grew its stake in shares of KNOT Offshore Partners by 4.9% during the 4th quarter. Green Square Capital LLC now owns 578,512 shares of the shipping company’s stock valued at $10,373,000 after purchasing an additional 27,130 shares during the period. Institutional investors and hedge funds own 40.13% 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 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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