$70.31 Million in Sales Expected for KNOT Offshore Partners LP (NYSE:KNOP) This Quarter
Brokerages predict that KNOT Offshore Partners LP (NYSE:KNOP) will announce sales of $70.31 million for the current quarter, according to Zacks. Two analysts have made estimates for KNOT Offshore Partners’ earnings. The lowest sales estimate is $70.10 million and the highest is $70.52 million. KNOT Offshore Partners posted sales of $69.77 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, August 29th.
On average, analysts expect that KNOT Offshore Partners will report full year sales of $282.79 million for the current financial year, with estimates ranging from $282.10 million to $283.47 million. For the next financial year, analysts expect that the company will post sales of $281.58 million, with estimates ranging from $281.45 million to $281.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover KNOT Offshore Partners.
KNOT Offshore Partners (NYSE:KNOP) last issued its earnings results on Thursday, May 23rd. The shipping company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.29). KNOT Offshore Partners had a net margin of 22.81% and a return on equity of 9.95%. The company had revenue of $70.55 million during the quarter, compared to analyst estimates of $69.84 million.
Shares of KNOT Offshore Partners stock traded down $0.01 during trading hours on Wednesday, hitting $19.48. The company had a trading volume of 88,600 shares, compared to its average volume of 105,077. The company’s 50-day moving average price is $19.46. KNOT Offshore Partners has a twelve month low of $17.18 and a twelve month high of $22.60. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.40 and a current ratio of 0.42. The firm has a market cap of $636.31 million, a P/E ratio of 7.76 and a beta of 0.58.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, July 26th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 10.68%. The ex-dividend date of this dividend is Thursday, July 25th. KNOT Offshore Partners’s dividend payout ratio is currently 82.87%.
A number of large investors have recently modified their holdings of KNOP. Kayne Anderson Capital Advisors LP boosted its stake in KNOT Offshore Partners by 29.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,376,163 shares of the shipping company’s stock worth $45,121,000 after purchasing an additional 547,500 shares during the period. First Trust Advisors LP boosted its stake in KNOT Offshore Partners by 23.3% during the 1st quarter. First Trust Advisors LP now owns 416,473 shares of the shipping company’s stock worth $7,909,000 after purchasing an additional 78,634 shares during the period. Deutsche Bank AG boosted its stake in KNOT Offshore Partners by 338.2% during the 4th quarter. Deutsche Bank AG now owns 20,900 shares of the shipping company’s stock worth $374,000 after purchasing an additional 16,131 shares during the period. AJO LP acquired a new stake in KNOT Offshore Partners during the 1st quarter worth $279,000. Finally, Millennium Management LLC acquired a new stake in KNOT Offshore Partners during the 4th quarter worth $257,000. Hedge funds and other institutional investors own 34.80% 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 provides loading, transportation, and storage of crude oil under time charters and bareboat charters. As of April 10, 2019, 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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