Q3 2024 EPS Estimates for KNOT Offshore Partners LP Lifted by Analyst (NYSE:KNOP)

KNOT Offshore Partners LP (NYSE:KNOP) – Equities research analysts at B. Riley upped their Q3 2024 earnings per share estimates for KNOT Offshore Partners in a report issued on Wednesday, September 4th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of ($0.04) per share for the quarter, up from their prior estimate of ($0.08). The consensus estimate for KNOT Offshore Partners’ current full-year earnings is $0.15 per share. B. Riley also issued estimates for KNOT Offshore Partners’ Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at $0.15 EPS.

KNOT Offshore Partners (NYSE:KNOP) last released its quarterly earnings results on Tuesday, September 3rd. The shipping company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.25). KNOT Offshore Partners had a return on equity of 2.84% and a net margin of 0.66%. The company had revenue of $74.42 million for the quarter, compared to analysts’ expectations of $69.84 million. During the same quarter last year, the company earned $0.27 EPS.

Separately, StockNews.com cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

KNOT Offshore Partners Trading Down 1.6 %

NYSE KNOP opened at $6.86 on Monday. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The firm has a 50-day moving average price of $7.31 and a 200 day moving average price of $6.37. The stock has a market capitalization of $233.51 million, a P/E ratio of -9.03 and a beta of 0.75. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

Institutional Trading of KNOT Offshore Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jump Financial LLC purchased a new stake in shares of KNOT Offshore Partners during the fourth quarter worth about $153,000. Valeo Financial Advisors LLC purchased a new stake in KNOT Offshore Partners in the 1st quarter worth approximately $57,000. ORG Partners LLC purchased a new stake in KNOT Offshore Partners in the 1st quarter worth approximately $37,000. Renaissance Technologies LLC raised its holdings in KNOT Offshore Partners by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,311,017 shares of the shipping company’s stock valued at $11,498,000 after acquiring an additional 41,100 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of KNOT Offshore Partners by 297.5% during the 2nd quarter. Marshall Wace LLP now owns 116,623 shares of the shipping company’s stock worth $1,023,000 after purchasing an additional 87,283 shares during the period. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

KNOT Offshore Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were paid a $0.026 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, July 29th. KNOT Offshore Partners’s payout ratio is currently -13.16%.

KNOT Offshore Partners Company Profile

KNOT Offshore Partners LP acquires, owns, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, and discharge of crude oil under time charters and bareboat charters. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.