Zacks: Analysts Expect Euronav NV (NYSE:EURN) Will Announce Quarterly Sales of $362.70 Million

Equities research analysts expect Euronav NV (NYSE:EURN) to announce sales of $362.70 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Euronav’s earnings. The lowest sales estimate is $360.26 million and the highest is $365.13 million. Euronav posted sales of $191.62 million in the same quarter last year, which suggests a positive year-over-year growth rate of 89.3%. The company is expected to issue its next earnings report before the market opens on Thursday, January 30th.

On average, analysts expect that Euronav will report full-year sales of $832.40 million for the current fiscal year, with estimates ranging from $827.68 million to $837.12 million. For the next year, analysts anticipate that the firm will report sales of $989.05 million, with estimates ranging from $983.06 million to $995.04 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Euronav.

Euronav (NYSE:EURN) last announced its 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. Euronav had a negative return on equity of 1.31% and a negative net margin of 5.12%. The business had revenue of $90.44 million for the quarter, compared to analysts’ expectations of $134.83 million.

A number of research firms have recently weighed in on EURN. Stifel Nicolaus raised Euronav from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Zacks Investment Research raised Euronav from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Friday, January 17th. Finally, ValuEngine cut Euronav from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $12.50.

Shares of EURN stock traded down $0.09 during trading hours on Friday, reaching $11.34. 1,700,765 shares of the company traded hands, compared to its average volume of 2,556,938. Euronav has a 12-month low of $7.21 and a 12-month high of $13.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.88 and a quick ratio of 1.24. The company has a market cap of $2.51 billion, a P/E ratio of -56.70 and a beta of 1.04. The firm has a 50-day moving average price of $11.96 and a 200 day moving average price of $10.09.

Hedge funds have recently bought and sold shares of the company. Ellington Management Group LLC raised its stake in Euronav by 16.9% during the 2nd 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 during the period. Sciencast Management LP bought a new stake in Euronav during the 4th quarter valued at approximately $220,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Euronav by 20.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,892 shares of the shipping company’s stock valued at $245,000 after purchasing an additional 3,370 shares during the period. Cubist Systematic Strategies LLC raised its stake in Euronav by 185.0% during the 2nd 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 during the period. Finally, Verition Fund Management LLC bought a new stake in Euronav during the 2nd quarter valued at approximately $385,000. 28.56% of the stock is currently owned by hedge funds and other institutional investors.

About Euronav

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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