Zacks: Brokerages Expect Euronav NV (EURN) Will Announce Quarterly Sales of $113.47 Million
Analysts predict that Euronav NV (NYSE:EURN) will announce $113.47 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Euronav’s earnings. The highest sales estimate is $135.80 million and the lowest is $99.30 million. Euronav posted sales of $147.74 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.2%. The business is scheduled to announce its next quarterly earnings report on Thursday, January 25th.
According to Zacks, analysts expect that Euronav will report full-year sales of $113.47 million for the current fiscal year, with estimates ranging from $432.73 million to $519.78 million. For the next fiscal year, analysts forecast that the firm will post sales of $500.73 million per share, with estimates ranging from $416.50 million to $562.26 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Euronav.
Several equities research analysts recently commented on the stock. TheStreet downgraded shares of Euronav from a “c-” rating to a “d+” rating in a research report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Euronav from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub downgraded shares of Euronav from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Stifel Nicolaus set a $9.00 target price on shares of Euronav and gave the stock a “hold” rating in a research report on Friday, December 22nd. Finally, ValuEngine upgraded shares of Euronav from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.17.
Hedge funds and other institutional investors have recently modified their holdings of the company. Lasry Marc acquired a new position in shares of Euronav in the 3rd quarter worth approximately $14,203,000. Allianz Asset Management GmbH lifted its position in shares of Euronav by 5.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock worth $1,649,000 after purchasing an additional 10,072 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Euronav by 20.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after purchasing an additional 16,120 shares during the period. Hedge funds and other institutional investors own 22.69% of the company’s stock.
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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