Equities research analysts forecast that KNOT Offshore Partners (NYSE:KNOP) will report earnings of $0.52 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for KNOT Offshore Partners’ earnings. KNOT Offshore Partners reported earnings of $0.39 per share in the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The business is scheduled to announce its next earnings results on Tuesday, May 15th.
According to Zacks, analysts expect that KNOT Offshore Partners will report full year earnings of $2.29 per share for the current fiscal year. For the next financial year, analysts forecast that the business will report earnings of $2.19 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $58.69 million.
KNOP has been the topic of several recent analyst reports. Zacks Investment Research upgraded KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine cut KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. TheStreet upgraded KNOT Offshore Partners from a “c” rating to a “b-” rating in a research note on Wednesday, February 21st. Finally, Citigroup cut their price objective on KNOT Offshore Partners from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 28th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.00.
Shares of NYSE:KNOP traded up $0.21 during trading on Wednesday, hitting $20.36. The company’s stock had a trading volume of 50,495 shares, compared to its average volume of 116,057. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.44 and a current ratio of 0.46. KNOT Offshore Partners has a fifty-two week low of $19.15 and a fifty-two week high of $24.42. The stock has a market cap of $658.79, a price-to-earnings ratio of 8.92 and a beta of 0.68.
A number of hedge funds and other institutional investors have recently made changes to their positions in KNOP. Renaissance Technologies LLC raised its stake in KNOT Offshore Partners by 131.2% during the fourth quarter. Renaissance Technologies LLC now owns 248,102 shares of the shipping company’s stock valued at $5,148,000 after buying an additional 140,802 shares in the last quarter. Deutsche Bank AG raised its stake in KNOT Offshore Partners by 52.0% during the fourth quarter. Deutsche Bank AG now owns 155,332 shares of the shipping company’s stock valued at $3,223,000 after buying an additional 53,134 shares in the last quarter. FNY Partners Fund LP acquired a new stake in KNOT Offshore Partners during the fourth quarter valued at approximately $867,000. Millennium Management LLC raised its stake in KNOT Offshore Partners by 246.4% during the fourth quarter. Millennium Management LLC now owns 43,294 shares of the shipping company’s stock valued at $898,000 after buying an additional 30,795 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in KNOT Offshore Partners by 16.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 80,150 shares of the shipping company’s stock valued at $1,663,000 after buying an additional 11,400 shares in the last quarter. Hedge funds and other institutional investors own 45.07% of the company’s stock.
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 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KNOT Offshore Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KNOT Offshore Partners and related companies with MarketBeat.com's FREE daily email newsletter.