Brokerages Expect Euronav NV (NYSE:EURN) to Post -$0.03 EPS

Analysts forecast that Euronav NV (NYSE:EURNGet Rating) will post earnings of ($0.03) per share for the current quarter, Zacks reports. Three analysts have made estimates for Euronav’s earnings. The highest EPS estimate is $0.06 and the lowest is ($0.15). Euronav reported earnings per share of ($0.44) during the same quarter last year, which suggests a positive year over year growth rate of 93.2%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Euronav will report full year earnings of $0.41 per share for the current year, with EPS estimates ranging from $0.03 to $1.14. For the next fiscal year, analysts anticipate that the business will report earnings of $1.31 per share, with EPS estimates ranging from $0.86 to $1.89. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Euronav.

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered Euronav from a “buy” rating to a “hold” rating and lowered their target price for the stock from $13.00 to $12.00 in a research note on Wednesday, April 27th. Zacks Investment Research lowered Euronav from a “buy” rating to a “hold” rating in a report on Wednesday, May 18th. Finally, StockNews.com initiated coverage on Euronav in a research report on Thursday, March 31st. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Euronav has an average rating of “Hold” and an average price target of $12.67.

Shares of EURN stock opened at $13.23 on Thursday. The company has a market capitalization of $2.67 billion, a P/E ratio of -8.59 and a beta of 0.07. Euronav has a 52 week low of $7.55 and a 52 week high of $13.81. The company’s 50 day moving average price is $12.02 and its two-hundred day moving average price is $10.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.92.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Investors of record on Tuesday, May 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.81%. This is a positive change from Euronav’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, May 27th. Euronav’s dividend payout ratio (DPR) is presently -2.60%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Euronav in the 4th quarter worth approximately $42,442,000. Deprince Race & Zollo Inc. lifted its stake in shares of Euronav by 0.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,829,535 shares of the shipping company’s stock worth $37,376,000 after acquiring an additional 29,109 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Euronav by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 2,199,907 shares of the shipping company’s stock worth $19,553,000 after acquiring an additional 46,790 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Euronav by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 1,951,990 shares of the shipping company’s stock valued at $19,051,000 after purchasing an additional 49,838 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Euronav during the first quarter worth about $11,717,000. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

Euronav Company Profile (Get Rating)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

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