Euronav (NYSE:EURN) Shares Gap Up to $16.38

Posted by AM Reporter Staff on Mar 19th, 2023

Shares of Euronav NV (NYSE:EURN – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $16.38, but opened at $16.92. Euronav shares last traded at $16.67, with a volume of 157,410 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EURN shares. Jefferies Financial Group boosted their price objective on shares of Euronav from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Euronav from a “buy” rating to a “hold” rating and lifted their target price for the company from $19.00 to $20.00 in a research note on Monday, March 6th. Stifel Nicolaus lowered shares of Euronav from a “buy” rating to a “hold” rating and cut their target price for the company from $20.00 to $17.00 in a research note on Tuesday, January 10th. TheStreet raised shares of Euronav from a “c+” rating to a “b” rating in a research note on Monday, February 6th. Finally, Jonestrading raised shares of Euronav from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, January 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.24.

Euronav Price Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.06 and a quick ratio of 1.92. The firm’s 50 day moving average is $16.56 and its 200 day moving average is $17.30. The firm has a market cap of $3.31 billion, a P/E ratio of 16.26 and a beta of 0.23.

Euronav (NYSE:EURN – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The shipping company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.80 by $0.36. Euronav had a net margin of 23.67% and a return on equity of 9.65%. The business had revenue of $322.93 million for the quarter, compared to analyst estimates of $362.95 million. As a group, analysts anticipate that Euronav NV will post 1.94 earnings per share for the current year.

Euronav Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, March 2nd. Investors of record on Wednesday, February 22nd were paid a dividend of $0.03 per share. This represents a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, February 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. RFP Financial Group LLC bought a new position in shares of Euronav in the fourth quarter worth approximately $51,000. Advisor Group Holdings Inc. raised its holdings in shares of Euronav by 240.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,580 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 3,234 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Euronav by 43.8% during the third quarter. BlackRock Inc. now owns 5,160 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 1,572 shares during the last quarter. Amundi raised its holdings in shares of Euronav by 26.8% during the second quarter. Amundi now owns 5,558 shares of the shipping company’s stock valued at $67,000 after purchasing an additional 1,173 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Euronav during the third quarter valued at approximately $163,000. Institutional investors own 68.04% of the company’s stock.

Euronav Company Profile

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Euronav NV engages in the ocean transportation and storage of crude oil. The firm operates through the following segments: Operation of crude oil tankers on the international markets (Tankers) and Floating Production, Storage and Offloading Operations (FSO/FPSO). The Tankers segment provides shipping services for crude oil seaborne transportation.