Euronav NV (NYSE:EURN) Receives $18.33 Consensus Target Price from Analysts

Shares of Euronav NV (NYSE:EURNGet Rating) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.33.

Several equities research analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Euronav from $14.00 to $15.00 in a research note on Tuesday, July 19th. Jefferies Financial Group raised shares of Euronav from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $20.00 in a research note on Tuesday, September 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Euronav from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th.

Institutional Investors Weigh In On Euronav

Several large investors have recently made changes to their positions in the stock. Samalin Investment Counsel LLC acquired a new position in Euronav during the fourth quarter worth $40,000. Amundi boosted its holdings in Euronav by 26.8% during the second quarter. Amundi now owns 5,558 shares of the shipping company’s stock worth $67,000 after purchasing an additional 1,173 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Euronav during the second quarter worth $140,000. Seven Eight Capital LP acquired a new position in Euronav during the second quarter worth $140,000. Finally, Fifth Third Bancorp boosted its holdings in Euronav by 38.9% during the first quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock worth $126,000 after purchasing an additional 3,335 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

Euronav Trading Up 5.0 %

EURN opened at $17.77 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.09 and a quick ratio of 1.94. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -15.87 and a beta of 0.12. The firm has a 50 day simple moving average of $14.62 and a 200 day simple moving average of $12.71. Euronav has a fifty-two week low of $7.91 and a fifty-two week high of $17.98.

Euronav (NYSE:EURNGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The shipping company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $105.28 million during the quarter, compared to the consensus estimate of $127.48 million. Euronav had a negative net margin of 46.72% and a negative return on equity of 12.34%. On average, sell-side analysts anticipate that Euronav will post 0.15 earnings per share for the current year.

Euronav Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 30th. Euronav’s dividend payout ratio is -1.79%.

Euronav Company Profile

(Get Rating)

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.

Further Reading

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