Zacks: Analysts Expect Euronav NV (EURN) to Announce -$0.28 EPS

Brokerages expect Euronav NV (NYSE:EURN) to post ($0.28) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Euronav’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.15). Euronav reported earnings per share of ($0.18) in the same quarter last year, which would suggest a negative year-over-year growth rate of 55.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Euronav will report full year earnings of ($0.97) per share for the current year, with EPS estimates ranging from ($1.16) to ($0.74). For the next year, analysts anticipate that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.57) to $0.49. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Euronav.

Euronav (NYSE:EURN) last announced its quarterly earnings results on Thursday, August 9th. The shipping company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. Euronav had a negative net margin of 14.17% and a negative return on equity of 6.82%. The firm had revenue of $78.14 million during the quarter, compared to analyst estimates of $65.60 million.

A number of analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Euronav in a research note on Monday, October 1st. They issued a “buy” rating and a $11.00 price target for the company. BTIG Research assumed coverage on shares of Euronav in a research note on Thursday, September 27th. They issued a “buy” rating and a $12.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Euronav from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Wells Fargo & Co reduced their price target on shares of Euronav from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, August 14th. Finally, Pareto Securities upgraded shares of Euronav from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.34.

Shares of EURN stock traded up $0.08 during trading hours on Friday, reaching $8.99. The company had a trading volume of 468,216 shares, compared to its average volume of 578,436. Euronav has a one year low of $7.50 and a one year high of $10.10. The firm has a market capitalization of $1.39 billion, a PE ratio of -99.89 and a beta of 0.55. The company has a quick ratio of 1.49, a current ratio of 1.06 and a debt-to-equity ratio of 0.61.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlueMountain Capital Management LLC purchased a new position in shares of Euronav in the second quarter worth approximately $52,471,000. FMR LLC boosted its holdings in shares of Euronav by 43.5% in the second quarter. FMR LLC now owns 4,357,144 shares of the shipping company’s stock worth $40,053,000 after buying an additional 1,320,660 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Euronav by 1,003,395.9% in the second quarter. BlackRock Inc. now owns 3,883,529 shares of the shipping company’s stock worth $35,729,000 after buying an additional 3,883,142 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Euronav by 1,778.4% in the second quarter. Marshall Wace LLP now owns 987,658 shares of the shipping company’s stock worth $9,077,000 after buying an additional 935,077 shares during the last quarter. Finally, GAM Holding AG boosted its holdings in shares of Euronav by 1,107.0% in the second quarter. GAM Holding AG now owns 653,239 shares of the shipping company’s stock worth $6,010,000 after buying an additional 599,119 shares during the last quarter. 44.97% of the stock is currently owned by institutional investors.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in 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 March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

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