Euronav NV (NYSE:EURN) Receives $14.00 Average PT from Analysts

Euronav NV (NYSE:EURNGet Rating) has been given an average rating of “Hold” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Euronav in a report on Wednesday, July 20th. They issued a “hold” rating and a $14.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Euronav from $14.00 to $15.00 in a report on Tuesday, July 19th.

Hedge Funds Weigh In On Euronav

Several institutional investors and hedge funds have recently made changes to their positions in EURN. Cetera Advisor Networks LLC grew its stake in Euronav by 5.3% in the first quarter. Cetera Advisor Networks LLC now owns 31,861 shares of the shipping company’s stock valued at $337,000 after acquiring an additional 1,617 shares during the period. Fifth Third Bancorp grew its stake in Euronav by 38.9% in the first quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock valued at $126,000 after acquiring an additional 3,335 shares during the period. Samalin Investment Counsel LLC acquired a new position in Euronav in the fourth quarter valued at about $40,000. Mraz Amerine & Associates Inc. grew its stake in Euronav by 4.3% in the first quarter. Mraz Amerine & Associates Inc. now owns 114,015 shares of the shipping company’s stock valued at $1,205,000 after acquiring an additional 4,720 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Euronav by 23.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,723 shares of the shipping company’s stock valued at $352,000 after acquiring an additional 6,253 shares during the period. Institutional investors and hedge funds own 45.67% of the company’s stock.

Euronav Price Performance

EURN opened at $14.47 on Wednesday. Euronav has a one year low of $7.55 and a one year high of $14.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.92 and a quick ratio of 1.67. The company’s 50 day simple moving average is $12.65 and its 200-day simple moving average is $11.47. The stock has a market capitalization of $2.92 billion, a P/E ratio of -9.40 and a beta of 0.19.

Euronav (NYSE:EURNGet Rating) last released its quarterly earnings results on Thursday, May 12th. The shipping company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. Euronav had a negative net margin of 70.67% and a negative return on equity of 16.21%. The business had revenue of $85.85 million for the quarter, compared to analysts’ expectations of $87.57 million. Sell-side analysts anticipate that Euronav will post 0.32 earnings per share for the current fiscal year.

Euronav Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 31st were issued a $0.06 dividend. This is a positive change from Euronav’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.24 annualized dividend and a dividend yield of 1.66%. Euronav’s payout ratio is -2.60%.

About Euronav

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Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

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