KNOT Offshore Partners (NYSE:KNOP) Announces Quarterly Earnings Results

KNOT Offshore Partners (NYSE:KNOP) announced its quarterly earnings results on Tuesday. The shipping company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.25), Yahoo Finance reports. KNOT Offshore Partners had a negative net margin of 8.64% and a positive return on equity of 4.57%. The company had revenue of $74.42 million for the quarter, compared to analyst estimates of $69.84 million. During the same quarter in the prior year, the business earned $0.27 earnings per share.

KNOT Offshore Partners Stock Performance

Shares of KNOT Offshore Partners stock opened at $7.00 on Thursday. The stock has a market capitalization of $238.32 million, a price-to-earnings ratio of -9.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.71 and a quick ratio of 0.67. The business has a 50-day moving average of $7.41 and a 200 day moving average of $6.33. KNOT Offshore Partners has a 12 month low of $4.94 and a 12 month high of $9.11.

KNOT Offshore Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Monday, July 29th were paid a dividend of $0.026 per share. This represents a $0.10 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, July 29th. KNOT Offshore Partners’s payout ratio is -13.16%.

Analysts Set New Price Targets

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

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.