Zacks Investment Research lowered shares of Euronav (NYSE:EURN) from a buy rating to a hold rating in a research note published on Thursday.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
EURN has been the topic of a number of other research reports. ValuEngine lowered Euronav from a buy rating to a hold rating in a research report on Wednesday, January 2nd. TheStreet lowered Euronav from a c- rating to a d+ rating in a research report on Friday, December 21st. DNB Markets lowered Euronav from a buy rating to a hold rating in a research report on Friday, November 30th. Jefferies Financial Group started coverage on Euronav in a research report on Monday, October 1st. They issued a buy rating and a $11.00 target price on the stock. Finally, BTIG Research started coverage on Euronav in a research report on Thursday, September 27th. They issued a buy rating and a $12.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $10.25.
NYSE:EURN opened at $7.67 on Thursday. Euronav has a fifty-two week low of $6.77 and a fifty-two week high of $10.10. The stock has a market cap of $1.25 billion, a PE ratio of -85.22 and a beta of 0.68.
Euronav (NYSE:EURN) last released its quarterly earnings data on Wednesday, October 31st. The shipping company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. Euronav had a negative return on equity of 7.94% and a negative net margin of 18.87%. The business had revenue of $110.52 million for the quarter, compared to analysts’ expectations of $119.04 million. On average, analysts forecast that Euronav will post -0.9 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in shares of Euronav during the 2nd quarter worth approximately $161,000. Citadel Advisors LLC acquired a new position in shares of Euronav during the 3rd quarter worth approximately $166,000. Tower Research Capital LLC TRC increased its position in shares of Euronav by 156.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 18,311 shares of the shipping company’s stock worth $169,000 after purchasing an additional 11,176 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Euronav during the 3rd quarter worth approximately $205,000. Finally, GeoSphere Capital Management LLC acquired a new position in shares of Euronav during the 2nd quarter worth approximately $223,000. 40.15% of the stock is currently owned by hedge funds and other institutional investors.
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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