Euronav (NYSE:EURN) Reaches New 52-Week High at $20.73

Euronav NV (NYSE:EURNGet Rating)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $20.73 and last traded at $20.29, with a volume of 6031 shares traded. The stock had previously closed at $20.18.

Analyst Ratings Changes

Several research analysts recently commented on EURN shares. Jefferies Financial Group upgraded Euronav from a “hold” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $20.00 in a research note on Tuesday, September 6th. BTIG Research cut Euronav from a “buy” rating to a “neutral” rating in a research note on Thursday, October 27th. StockNews.com upgraded Euronav from a “sell” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Euronav from $20.00 to $21.00 in a research note on Thursday, October 27th.

Euronav Price Performance

The company has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $15.02. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -39.14 and a beta of 0.21. The company has a quick ratio of 1.84, a current ratio of 2.05 and a debt-to-equity ratio of 0.69.

Euronav (NYSE:EURNGet Rating) last announced its quarterly earnings results on Friday, November 4th. The shipping company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The company had revenue of $167.94 million for the quarter, compared to analyst estimates of $169.83 million. Euronav had a negative return on equity of 5.92% and a negative net margin of 17.12%. As a group, research analysts anticipate that Euronav NV will post 0.66 EPS for the current fiscal year.

Euronav Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $0.03 per share. This represents a dividend yield of 0.61%. The ex-dividend date is Monday, November 21st. Euronav’s payout ratio is -3.92%.

Institutional Trading of Euronav

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi grew its holdings in Euronav by 26.8% in the 2nd quarter. Amundi now owns 5,558 shares of the shipping company’s stock worth $67,000 after buying an additional 1,173 shares in the last quarter. BlackRock Inc. grew its holdings in Euronav by 43.8% in the 3rd quarter. BlackRock Inc. now owns 5,160 shares of the shipping company’s stock worth $80,000 after buying an additional 1,572 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Euronav in the 1st quarter worth approximately $133,000. Y Intercept Hong Kong Ltd bought a new position in Euronav in the 2nd quarter worth approximately $140,000. Finally, Seven Eight Capital LP bought a new position in Euronav in the 2nd quarter worth approximately $140,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

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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