$0.68 Earnings Per Share Expected for KNOT Offshore Partners LP (KNOP) This Quarter

Equities analysts forecast that KNOT Offshore Partners LP (NYSE:KNOP) will announce earnings of $0.68 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for KNOT Offshore Partners’ earnings. KNOT Offshore Partners posted earnings of $0.94 per share during the same quarter last year, which indicates a negative year over year growth rate of 27.7%. The business is expected to announce its next quarterly earnings report on Tuesday, June 4th.

According to Zacks, analysts expect that KNOT Offshore Partners will report full year earnings of $2.53 per share for the current financial year. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover KNOT Offshore Partners.

KNOT Offshore Partners (NYSE:KNOP) last posted its earnings results on Wednesday, March 13th. The shipping company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.35). KNOT Offshore Partners had a net margin of 29.40% and a return on equity of 12.64%. The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $70.14 million.

A number of research firms have weighed in on KNOP. Zacks Investment Research raised KNOT Offshore Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, December 4th. Barclays reaffirmed a “hold” rating and issued a $20.00 price objective on shares of KNOT Offshore Partners in a research note on Monday, March 18th. TheStreet raised KNOT Offshore Partners from a “c” rating to a “b-” rating in a research note on Thursday, March 14th. Finally, ValuEngine raised KNOT Offshore Partners from a “sell” rating to a “hold” rating in a research note on Monday, January 7th.

KNOP stock traded down $0.18 during trading on Friday, reaching $18.94. The stock had a trading volume of 6,072 shares, compared to its average volume of 111,728. KNOT Offshore Partners has a 52 week low of $17.18 and a 52 week high of $22.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.39 and a current ratio of 0.41. The company has a market cap of $624.38 million, a price-to-earnings ratio of 7.52 and a beta of 0.58.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC lifted its position in shares of KNOT Offshore Partners by 1.7% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 39,370 shares of the shipping company’s stock valued at $706,000 after acquiring an additional 644 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new position in KNOT Offshore Partners during the fourth quarter valued at approximately $36,000. Naples Global Advisors LLC grew its holdings in KNOT Offshore Partners by 6.6% during the fourth quarter. Naples Global Advisors LLC now owns 33,205 shares of the shipping company’s stock valued at $633,000 after purchasing an additional 2,055 shares during the period. IFP Advisors Inc acquired a new position in KNOT Offshore Partners during the fourth quarter valued at approximately $74,000. Finally, Russell Investments Group Ltd. acquired a new position in KNOT Offshore Partners during the third quarter valued at approximately $161,000. Institutional investors and hedge funds own 39.93% 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 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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