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KNOT Offshore Partners LP KNOP is a crude oil transporter that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on KNOP's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that KNOT Offshore could be a solid choice for investors.
Current Quarter Estimates for KNOP
In the past 30 days, one estimate has gone higher for KNOT Offshore while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 45 cents a share 30 days ago, to 51 today, a move of 13.3%.
Current Year Estimates for KNOP
Meanwhile, KNOT Offshore's current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.92 per share 30 days ago to $2.08 per share today, an increase of 8.3%.
Bottom Line
The stock has also started to move higher lately, adding 5.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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KNOT Offshore Partners LP (NYSE:KNOP): Free Stock Analysis Report
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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