Citigroup Inc. Reaffirms “Buy” Rating for Euronav NV (EURN)
Euronav NV (NASDAQ:EURN)‘s stock had its “buy” rating reaffirmed by stock analysts at Citigroup Inc. in a research note issued on Saturday. They currently have a $9.00 target price on the stock, down from their prior target price of $11.00. Citigroup Inc.’s target price would suggest a potential upside of 9.62% from the stock’s previous close.
A number of other brokerages also recently issued reports on EURN. Morgan Stanley reissued an “equal weight” rating and issued a $9.50 price target (down from $11.00) on shares of Euronav NV in a report on Thursday, August 25th. Deutsche Bank AG reissued a “hold” rating on shares of Euronav NV in a report on Wednesday, July 6th. Zacks Investment Research downgraded shares of Euronav NV from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating and issued a $15.00 price target on shares of Euronav NV in a report on Friday, August 26th. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Euronav NV in a report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.17.
Shares of Euronav NV (NASDAQ:EURN) opened at 8.21 on Friday. The firm has a market capitalization of $1.30 billion and a P/E ratio of 3.95. The company’s 50-day moving average is $8.52 and its 200 day moving average is $9.47. Euronav NV has a 52-week low of $7.39 and a 52-week high of $16.23.
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Euronav NV (NASDAQ:EURN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.13. Analysts expect that Euronav NV will post $1.88 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 21st were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 20th.
Several hedge funds and other institutional investors have recently bought and sold shares of EURN. AXA bought a new position in Euronav NV during the second quarter valued at $3,631,000. Doheny Asset Management CA boosted its position in Euronav NV by 38.5% in the second quarter. Doheny Asset Management CA now owns 1,000,750 shares of the company’s stock valued at $9,177,000 after buying an additional 278,350 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Euronav NV by 302.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 159,171 shares of the company’s stock valued at $1,460,000 after buying an additional 119,584 shares during the period. Vanguard Group Inc. boosted its position in Euronav NV by 12.6% in the second quarter. Vanguard Group Inc. now owns 2,426,282 shares of the company’s stock valued at $22,250,000 after buying an additional 270,545 shares during the period. Finally, AJO LP boosted its position in Euronav NV by 236.9% in the second quarter. AJO LP now owns 1,704,643 shares of the company’s stock valued at $15,632,000 after buying an additional 1,198,652 shares during the period.
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