Shares of Euronav NV (NYSE:EURN) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.50.
EURN has been the topic of several recent research reports. Stifel Nicolaus upgraded Euronav from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. ValuEngine lowered Euronav from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Zacks Investment Research lowered Euronav from a “buy” rating to a “hold” rating in a report on Friday.
Hedge funds have recently bought and sold shares of the company. Aperio Group LLC bought a new position in shares of Euronav in the second quarter valued at approximately $68,000. Ellington Management Group LLC lifted its holdings in shares of Euronav by 16.9% in the second quarter. Ellington Management Group LLC now owns 14,500 shares of the shipping company’s stock valued at $137,000 after purchasing an additional 2,100 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Euronav by 185.0% in the second quarter. Cubist Systematic Strategies LLC now owns 35,592 shares of the shipping company’s stock valued at $336,000 after purchasing an additional 23,103 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of Euronav in the fourth quarter valued at approximately $502,000. Finally, Verition Fund Management LLC bought a new position in shares of Euronav in the second quarter valued at approximately $385,000. Institutional investors own 28.51% of the company’s stock.
Euronav (NYSE:EURN) last announced its quarterly earnings results on Tuesday, October 29th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $90.44 million for the quarter, compared to analyst estimates of $134.83 million. Euronav had a negative return on equity of 1.31% and a negative net margin of 5.12%. Equities analysts predict that Euronav will post 0.57 earnings per share for the current fiscal year.
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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