Euronav NV (EURN) Given Consensus Recommendation of “Hold” by Analysts
Shares of Euronav NV (NYSE:EURN) have earned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.56.
Several analysts have issued reports on EURN shares. Zacks Investment Research upgraded Euronav from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. TheStreet downgraded Euronav from a “c-” rating to a “d+” rating in a report on Tuesday, November 14th. Stifel Nicolaus restated a “hold” rating and set a $8.50 price objective on shares of Euronav in a report on Wednesday, December 6th. Deutsche Bank set a $10.00 target price on Euronav and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, UBS Group lifted their target price on Euronav from $8.75 to $9.25 and gave the company a “neutral” rating in a research note on Friday, January 26th.
Large investors have recently added to or reduced their stakes in the business. Jefferies Group LLC purchased a new position in Euronav during the 4th quarter valued at about $163,000. Macquarie Group Ltd. purchased a new position in Euronav during the 4th quarter valued at about $190,000. Impala Asset Management LLC purchased a new position in Euronav during the 4th quarter valued at about $687,000. Dimensional Fund Advisors LP grew its stake in Euronav by 20.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock valued at $773,000 after acquiring an additional 16,120 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Euronav during the 4th quarter valued at about $894,000. 22.95% of the stock is currently owned by institutional investors.
Euronav (NYSE:EURN) last posted its quarterly earnings data on Thursday, January 25th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $121.46 million. Euronav had a negative return on equity of 1.16% and a net margin of 0.24%. equities research analysts forecast that Euronav will post -0.64 earnings per share for the current year.
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Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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