Euronav NV (NYSE:EURN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Euronav NV (NYSE:EURNGet Rating) have received a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.67.

A number of equities analysts have recently weighed in on EURN shares. Jefferies Financial Group lowered Euronav from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $12.00 in a research note on Wednesday. StockNews.com started coverage on Euronav in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Zacks Investment Research upgraded Euronav from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday.

Hedge funds have recently modified their holdings of the business. Samalin Investment Counsel LLC purchased a new stake in Euronav during the fourth quarter valued at approximately $40,000. Wells Fargo & Company MN grew its stake in shares of Euronav by 47.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,701 shares of the shipping company’s stock valued at $69,000 after buying an additional 2,481 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Euronav by 38.9% during the first quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock valued at $126,000 after buying an additional 3,335 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Euronav during the first quarter valued at approximately $133,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Euronav during the fourth quarter valued at approximately $131,000. Institutional investors and hedge funds own 36.71% of the company’s stock.

NYSE EURN traded down $0.13 on Monday, hitting $11.83. 4,724,227 shares of the company traded hands, compared to its average volume of 2,859,460. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -7.04 and a beta of 0.17. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average price is $11.35 and its 200-day moving average price is $10.15. Euronav has a 52-week low of $7.55 and a 52-week high of $13.24.

Euronav (NYSE:EURNGet Rating) last released its earnings results on Thursday, February 3rd. The shipping company reported ($0.38) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.03. The company had revenue of $85.34 million for the quarter, compared to the consensus estimate of $104.58 million. Euronav had a negative return on equity of 16.42% and a negative net margin of 77.54%. As a group, sell-side analysts predict that Euronav will post 0.43 earnings per share for the current year.

About Euronav (Get Rating)

Euronav NV, together with its subsidiaries, engages in the ocean transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2021, it owned and operated a fleet of 77 vessels, including 10 chartered-in vessels with an aggregate carrying capacity of approximately 19.5 million deadweight tons consisting of 45 very large crude carriers, two V-plus, 28 Suezmax vessels, and two floating, storage, and offloading vessels.

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