Euronav (NYSE:EURN) was upgraded by equities research analysts at DNB Markets from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
A number of other brokerages have also recently weighed in on EURN. Zacks Investment Research cut Euronav from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. ValuEngine raised Euronav from a “buy” rating to a “strong-buy” rating in a report on Friday, November 30th. Finally, Stifel Nicolaus set a $10.00 price objective on Euronav and gave the company a “hold” rating in a report on Friday, January 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.46.
Shares of NYSE:EURN traded up $0.28 on Tuesday, hitting $7.92. The company’s stock had a trading volume of 1,649 shares, compared to its average volume of 303,798. Euronav has a 1 year low of $6.77 and a 1 year high of $10.10. The stock has a market cap of $1.22 billion, a P/E ratio of -12.18 and a beta of 0.79.
Euronav (NYSE:EURN) last released its quarterly earnings results on Thursday, January 24th. The shipping company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $191.62 million for the quarter, compared to analysts’ expectations of $190.76 million. Euronav had a negative return on equity of 6.26% and a negative net margin of 18.38%. As a group, equities analysts expect that Euronav will post 0.04 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Euronav by 1,326.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,551,658 shares of the shipping company’s stock worth $24,613,000 after purchasing an additional 3,302,656 shares during the period. GAM Holding AG bought a new stake in shares of Euronav in the 4th quarter worth approximately $6,178,000. Wiley BROS. Aintree Capital LLC bought a new stake in shares of Euronav in the 4th quarter worth approximately $652,000. Deprince Race & Zollo Inc. bought a new stake in shares of Euronav in the 4th quarter worth approximately $11,805,000. Finally, Frontier Capital Management Co. LLC grew its position in shares of Euronav by 5.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,440,387 shares of the shipping company’s stock worth $16,912,000 after buying an additional 117,467 shares during the last quarter. 41.30% of the stock is currently owned by institutional investors and hedge funds.
Euronav NV, together with its subsidiaries, engages in the 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 December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.
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