Euronav NV (EURN) Expected to Post Earnings of -$0.18 Per Share

Equities research analysts forecast that Euronav NV (NYSE:EURN) will report earnings per share (EPS) of ($0.18) for the current quarter, according to Zacks. Three analysts have provided estimates for Euronav’s earnings. The lowest EPS estimate is ($0.23) and the highest is ($0.15). Euronav posted earnings of ($0.28) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 8th.

On average, analysts expect that Euronav will report full year earnings of ($0.12) per share for the current year, with EPS estimates ranging from ($0.60) to $0.11. For the next year, analysts expect that the business will report earnings of $0.59 per share, with EPS estimates ranging from ($0.32) to $1.27. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Euronav.

Euronav (NYSE:EURN) last issued its quarterly earnings data on Tuesday, April 30th. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $206.08 million. Euronav had a negative net margin of 7.01% and a negative return on equity of 3.29%.

Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Euronav from a “d+” rating to a “c-” rating in a report on Monday, April 15th. Zacks Investment Research upgraded shares of Euronav from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine upgraded shares of Euronav from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Morgan Stanley set a $11.00 price target on shares of Euronav and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, DNB Markets upgraded shares of Euronav from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.61.

Shares of NYSE EURN traded up $0.23 during mid-day trading on Friday, reaching $8.53. 12,877 shares of the company’s stock traded hands, compared to its average volume of 420,685. Euronav has a 1-year low of $6.77 and a 1-year high of $10.22. The stock has a market capitalization of $1.88 billion, a P/E ratio of -13.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

The company also recently declared a semiannual dividend, which was paid on Friday, May 24th. Investors of record on Thursday, May 16th were issued a dividend of $0.06 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 15th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Euronav in the fourth quarter worth about $30,706,000. Bank of New York Mellon Corp raised its position in Euronav by 1,326.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,551,658 shares of the shipping company’s stock worth $24,613,000 after acquiring an additional 3,302,656 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Euronav in the fourth quarter worth about $11,805,000. GAM Holding AG bought a new stake in Euronav in the fourth quarter worth about $6,178,000. Finally, Citigroup Inc. raised its position in Euronav by 6,189.6% in the fourth quarter. Citigroup Inc. now owns 565,816 shares of the shipping company’s stock worth $4,023,000 after acquiring an additional 556,820 shares during the period. Institutional investors and hedge funds own 30.21% of the company’s stock.

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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Earnings History and Estimates for Euronav (NYSE:EURN)

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