KNOT Offshore Partners (NYSE:KNOP) Posts Earnings Results

KNOT Offshore Partners (NYSE:KNOP) announced its earnings results on Wednesday. The shipping company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.51, Zacks reports. KNOT Offshore Partners had a negative net margin of 4.82% and a negative return on equity of 0.29%. The business had revenue of $91.26 million during the quarter, compared to the consensus estimate of $76.50 million.

KNOT Offshore Partners Stock Up 11.8 %

Shares of NYSE:KNOP traded up $0.66 during trading on Thursday, reaching $6.29. 231,711 shares of the stock traded hands, compared to its average volume of 64,749. The stock has a 50-day moving average of $5.65 and a two-hundred day moving average of $6.02. KNOT Offshore Partners has a 52-week low of $4.94 and a 52-week high of $9.11. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.42 and a current ratio of 0.44. The stock has a market cap of $215.80 million, a P/E ratio of -14.63 and a beta of 0.70.

KNOT Offshore Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Monday, January 27th were issued a dividend of $0.026 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Monday, January 27th. KNOT Offshore Partners’s payout ratio is -23.26%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of KNOT Offshore Partners from a “buy” rating to a “hold” rating in a report on Tuesday.

About KNOT Offshore Partners

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.