Euronav (NYSE:EURN) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Euronav (NYSE:EURN) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Euronav from a sell rating to a hold rating in a research note on Monday, September 16th. Evercore ISI reissued a buy rating and set a $16.00 price objective on shares of Euronav in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $12.00.

Shares of EURN traded up $0.43 during trading hours on Wednesday, reaching $9.95. 2,730,768 shares of the company traded hands, compared to its average volume of 495,819. The company’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $8.75. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of -15.31 and a beta of 0.99. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 0.69. Euronav has a 12 month low of $6.77 and a 12 month high of $10.22.

Euronav (NYSE:EURN) last announced its earnings results on Thursday, August 8th. The shipping company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. The firm had revenue of $132.47 million for the quarter, compared to analyst estimates of $124.00 million. Euronav had a negative net margin of 9.69% and a negative return on equity of 2.89%. On average, analysts expect that Euronav will post -0.14 EPS for the current year.

The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.06 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 26th. Euronav’s payout ratio is currently -18.46%.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Euronav by 2.5% during the second quarter. Vanguard Group Inc. now owns 4,589,312 shares of the shipping company’s stock worth $43,324,000 after acquiring an additional 111,349 shares in the last quarter. MARSHALL WACE ASIA Ltd boosted its stake in Euronav by 12.8% during the first quarter. MARSHALL WACE ASIA Ltd now owns 2,718,735 shares of the shipping company’s stock worth $22,158,000 after acquiring an additional 308,432 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in Euronav by 1.6% during the second quarter. Deprince Race & Zollo Inc. now owns 2,176,450 shares of the shipping company’s stock worth $20,546,000 after acquiring an additional 34,812 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Euronav by 249.5% during the second quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock worth $15,202,000 after acquiring an additional 1,153,365 shares in the last quarter. Finally, GAM Holding AG boosted its stake in Euronav by 31.4% during the second quarter. GAM Holding AG now owns 1,089,877 shares of the shipping company’s stock worth $10,220,000 after acquiring an additional 260,465 shares in the last quarter. 29.35% of the stock is currently owned by institutional investors and hedge funds.

Euronav Company Profile

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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Analyst Recommendations for Euronav (NYSE:EURN)

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